Should You Avoid Energizer Holdings, Inc. (ENR)?

Judging by the fact that Energizer Holdings, Inc. (NYSE:ENR) has faced bearish sentiment from the aggregate hedge fund industry, we can see that there exists a select few hedge funds that elected to cut their full holdings in the third quarter. Interestingly, Kenneth Mario Garschina’s Mason Capital Management said goodbye to the largest investment of the 700 funds followed by Insider Monkey, comprising close to $405.8 million in stock, and Mario Gabelli’s GAMCO Investors was right behind this move, as the fund said goodbye to about $162.3 million worth of ENR shares. These transactions are intriguing to say the least, as aggregate hedge fund interest was cut by 8 funds in the third quarter.

Let’s check out hedge fund activity in other stocks similar to Energizer Holdings, Inc. (NYSE:ENR). We will take a look at Sears Holdings Corporation (NASDAQ:SHLD), Proofpoint Inc (NASDAQ:PFPT), SINA Corp (NASDAQ:SINA), and EverBank Financial Corp (NYSE:EVER). All of these stocks’ market caps resemble ENR’s market cap.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $605 million, while in the case of ENR that figure was $336 million. Sears Holdings Corporation (NASDAQ:SHLD) is the most popular stock in this table. On the other hand EverBank Financial Corp (NYSE:EVER) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Energizer Holdings, Inc. (NYSE:ENR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.