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Do Hedge Funds Love AMAG Pharmaceuticals, Inc. (AMAG)?

It’s worth mentioning that Jason Karp’s Tourbillon Capital Partners said goodbye to the largest investment of all the hedgies tracked by Insider Monkey, worth about $31.2 million in stock. Zach Schreiber’s fund, Point State Capital, also sold off its stock, about $20.7 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now take a look at hedge fund activity in other stocks similar to AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG). These stocks are Stratasys, Ltd. (NASDAQ:SSYS), Rambus Inc. (NASDAQ:RMBS), First Midwest Bancorp Inc (NASDAQ:FMBI), and Pennsylvania R.E.I.T. (NYSE:PEI). All of these stocks’ market caps match AMAG’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SSYS 17 156792 -1
RMBS 16 58379 5
FMBI 14 84420 1
PEI 8 22888 -4

As you can see these stocks had an average of 13.75 hedge funds with bullish positions and the average amount invested in these stocks was $81 million. That figure was $389 million in AMAG’s case. Stratasys, Ltd. (NASDAQ:SSYS) is the most popular stock in this table. On the other hand Pennsylvania R.E.I.T. (NYSE:PEI) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) 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.

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