Do Hedge Funds Love Republic Airways Holdings Inc. (RJET)?

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.

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.