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Hedge Funds Are Dumping CSRA Inc (CSRA)

Judging by the fact that CSRA Inc (NYSE:CSRA) has gone through falling interest from the smart money, we can see that there is a sect of hedge funds that decided to sell off their entire stakes by the end of the third quarter. It’s worth mentioning that Cliff Asness’s AQR Capital Management dropped the largest investment of all the hedgies followed by Insider Monkey, totaling close to $8.7 million in stock. Jacob Gottlieb’s fund, Visium Asset Management, also said goodbye to its stock, about $1.8 million worth of CSRA shares.

Let’s now review hedge fund activity in other stocks similar to CSRA Inc (NYSE:CSRA). These stocks are Brunswick Corporation (NYSE:BC), Equity One, Inc. (NYSE:EQY), Neurocrine Biosciences, Inc. (NASDAQ:NBIX), and Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR). This group of stocks’ market valuations resemble CSRA’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BC 30 500919 -1
EQY 10 92783 -8
NBIX 39 635917 0
ASR 9 38120 1

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $317 million. That figure was $524 million in CSRA’s case. Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is the most popular stock in this table. On the other hand Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR) is the least popular one with only 9 bullish hedge fund positions. CSRA Inc (NYSE:CSRA) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard NBIX might be a better candidate to consider taking a long position in.

Disclosure: none.

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