Intriguingly, Stephen V. Raneri’s LionEye Capital Management dropped the largest position of all the hedgies monitored by Insider Monkey, comprising an estimated $18.9 million in stock. Louis Bacon’s fund, Moore Global Investments, also said goodbye to its stock, about $3.4 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
Let’s go over hedge fund activity in other stocks similar to Republic Airways Holdings Inc. (NASDAQ:RJET). We will take a look at Central European Media Enterprises Ltd. (NASDAQ:CETV), Nanometrics Incorporated (NASDAQ:NANO), Handy and Harman Ltd (NASDAQ:HNH), and AEP Industries (NASDAQ:AEPI). This group of stocks’ market valuations resemble RJET’s market valuation.
|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 8.25 hedge funds with bullish positions and the average amount invested in these stocks was $100 million. That figure was $83 million in RJET’s case. AEP Industries (NASDAQ:AEPI) is the most popular stock in this table. On the other hand Handy and Harman Ltd (NASDAQ:HNH) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Republic Airways Holdings Inc. (NASDAQ:RJET) 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.