Hedge Funds Are Dumping Enterprise Financial Services Corp (EFSC)

Since Enterprise Financial Services Corp (NASDAQ:EFSC) has faced declining sentiment from the smart money, it’s safe to say that there exists a select few hedge funds who were dropping their entire stakes in the third quarter. Intriguingly, Glenn Russell Dubin’s Highbridge Capital Management dropped the biggest position of all the hedgies tracked by Insider Monkey, valued at about $0.4 million in stock. Robert B. Gillam’s fund, McKinley Capital Management, also dropped its stock.

Let’s also examine hedge fund activity in other stocks similar to Enterprise Financial Services Corp (NASDAQ:EFSC). We will take a look at Atento SA (NYSE:ATTO), Global Brass and Copper Holdings Inc (NYSE:BRSS), Agenus Inc (NASDAQ:AGEN), and Lakeland Bancorp, Inc. (NASDAQ:LBAI). This group of stocks’ market values are similar to EFSC’s market value.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $47 million. That figure was $31 million in EFSC’s case. Global Brass and Copper Holdings Inc (NYSE:BRSS) is the most popular stock in this table. On the other hand Atento SA (NYSE:ATTO) is the least popular one with only 5 bullish hedge fund positions. Enterprise Financial Services Corp (NASDAQ:EFSC) 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 BRSS might be a better candidate to consider taking a long position in.

Disclosure: None