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Should You Follow the Smart Money Stampede Out of Equity One, Inc. (EQY)?

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Is Equity One, Inc. (NYSE:EQY) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from industry insiders. They fail miserably sometimes but historically their consensus stock picks outperformed the market after adjusting for known risk factors.

Equity One, Inc. (NYSE:EQY) was in 10 hedge funds’ portfolios at the end of September. EQY shareholders have witnessed a decrease in enthusiasm from smart money lately. There were 18 hedge funds in our database with EQY holdings at the end of the previous quarter. At the end of this article we will also compare EQY to other stocks including Neurocrine Biosciences, Inc. (NASDAQ:NBIX), Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR), and Guidewire Software Inc (NYSE:GWRE) to get a better sense of its popularity.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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How are hedge funds trading Equity One, Inc. (NYSE:EQY)?

Heading into the fourth quarter of 2016, a total of 10 of the hedge funds tracked by Insider Monkey held long positions in this stock, a 44% fall from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards EQY over the last 5 quarters, which spiked in the first-half of the year but gave all of those gains back in Q3. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

HedgeFundSentimentChart

According to Insider Monkey’s hedge fund database, Millennium Management, one of the 10 largest hedge funds in the world, has the most valuable position in Equity One, Inc. (NYSE:EQY), worth close to $37.5 million. The second largest stake is held by Eduardo Abush of Waterfront Capital Partners, with a $26.3 million position; 3.8% of its 13F portfolio is allocated to the stock. Other peers with similar optimism encompass Glenn Russell Dubin’s Highbridge Capital Management, Greg Poole’s Echo Street Capital Management, and Michael Swotes’ Castle Ridge Investment Management. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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