Abercrombie & Fitch Co. (ANF): Are Hedge Funds Right About This Stock?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually dumped their positions entirely. Interestingly, Brett Barakett’s Tremblant Capital dumped the largest investment of the 700 funds tracked by Insider Monkey, comprising about $15.1 million in call options. Alexander Mitchell’s fund, Scopus Asset Management, also sold off its call options, worth about $8 million.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Abercrombie & Fitch Co. (NYSE:ANF) but similarly valued. These stocks are BroadSoft Inc (NASDAQ:BSFT), First Financial Bancorp (NASDAQ:FFBC), Super Micro Computer, Inc. (NASDAQ:SMCI), and Independent Bank Corp (NASDAQ:INDB). All of these stocks’ market caps match ANF’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $54 million. That figure was $172 million in ANF’s case. BroadSoft Inc (NASDAQ:BSFT) is the most popular stock in this table. On the other hand Independent Bank Corp (NASDAQ:INDB) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Abercrombie & Fitch Co. (NYSE:ANF) 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.

Disclosure: none.