Do Hedge Funds Love Sigma Designs Inc (SIGM)?

Judging by the fact that Sigma Designs Inc (NASDAQ:SIGM) has faced a decline in interest from the entirety of the hedge funds we track, it’s safe to say that there was a specific group of hedgies who were dropping their positions entirely by the end of the third quarter. It’s worth mentioning that William Charters and Mario Marcon’s Sabal Capital Management cut the biggest position of the 700 funds tracked by Insider Monkey, comprising an estimated $4.6 million in stock. Mark Coe’s fund, Coe Capital Management, also said goodbye to its stock, about $0.4 million worth.

Let’s check out hedge fund activity in other stocks similar to Sigma Designs Inc (NASDAQ:SIGM). We will take a look at Atlantic Power Corp (NYSE:AT), Farmers National Banc Corp (NASDAQ:FMNB), The Chefs Warehouse, Inc (NASDAQ:CHEF), and Panhandle Oil and Gas Inc. (NYSE:PHX). This group of stocks’ market values match SIGM’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AT 13 44202 3
FMNB 7 9235 1
CHEF 5 12585 0
PHX 4 35866 0

As you can see these stocks had an average of seven investors with long positions and the average amount invested in these stocks was $25 million. That figure was $47 million in SIGM’s case. Atlantic Power Corp (NYSE:AT) is the most popular stock in this table. On the other hand Panhandle Oil and Gas Inc. (NYSE:PHX) is the least popular one with only four bullish hedge fund positions. Compared to these stocks Sigma Designs Inc (NASDAQ:SIGM) 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