What Smart Money Thinks about Caleres Inc (CAL)?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually got rid of their positions entirely. It’s worth mentioning that Paul Marshall and Ian Wace’s Marshall Wace LLP got rid of the biggest stake of the “upper crust” of funds monitored by Insider Monkey, comprising an estimated $2.4 million in stock, and Neil Chriss’ Hutchin Hill Capital was right behind this move, as the fund dumped about $1.4 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to Caleres Inc (NYSE:CAL). We will take a look at Tree.com Inc (NASDAQ:TREE), GasLog Ltd (NYSE:GLOG), Benchmark Electronics, Inc. (NYSE:BHE), and Cato Corp (NYSE:CATO). All of these stocks’ market caps resemble CAL’s market cap.

As you can see these stocks had an average of 14 investors with bullish positions and the average amount invested in these stocks was $98 million, versus $55 million in CAL’s case. Tree.com Inc (NASDAQ:TREE) is the most popular stock in this table, while GasLog Ltd (NYSE:GLOG) is the least popular one with only nine bullish hedge fund positions. Caleres Inc (NYSE:CAL) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Tree.com Inc (NASDAQ:TREE) might be a better candidate to consider taking a long position in.