Hedge Funds Are Dumping Greenbrier Companies Inc (GBX)

Because Greenbrier Companies Inc (NYSE:GBX) has experienced a decline in interest from the entirety of the hedge funds we track, it’s easy to see that there is a sect of money managers who were dropping their positions entirely in the third quarter. Interestingly, Brian Taylor’s Pine River Capital Management dropped the largest position of all the hedgies followed by Insider Monkey, valued at close to $12.8 million in stock, and Peter Muller’s PDT Partners was right behind this move, as the fund dropped about $4.4 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 5 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Greenbrier Companies Inc (NYSE:GBX). These stocks are Alamos Gold Inc (NYSE:AGI), Trueblue Inc (NYSE:TBI), Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), and Dynavax Technologies Corporation (NASDAQ:DVAX). This group of stocks’ market values are similar to GBX’s market value.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $181 million, versus $127 million in GBX’s case. Dynavax Technologies Corporation (NASDAQ:DVAX) is the most popular stock in this table with 32 hedge funds reporting stakes. On the other hand Alamos Gold Inc (NYSE:AGI) is the least popular one with only 13 bullish hedge fund positions. Greenbrier Companies Inc (NYSE:GBX) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard DVAX might be a better candidate to consider a long position.