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|
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.