Hedge Funds Are Dumping RTI Surgical Inc (RTIX)

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Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cut their entire stakes in the stock during the third quarter. At the top of the heap, Dmitry Balyasny’s Balyasny Asset Management cut the biggest position of all the investors followed by Insider Monkey, worth about $0.2 million in stock. Ken Griffin’s fund, Citadel Investment Group, also said goodbye to its stock, about $0 million worth.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as RTI Surgical Inc (NASDAQ:RTIX) but similarly valued. We will take a look at First NBC Bank Holding Company (NASDAQ:FNBC), Skullcandy Inc (NASDAQ:SKUL), Codexis, Inc. (NASDAQ:CDXS), and FuelCell Energy, Inc. (NASDAQ:FCEL). This group of stocks’ market valuations match RTIX’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FNBC 12 19410 0
SKUL 10 3978 -4
CDXS 5 34133 2
FCEL 3 7234 -1

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $16 million. That figure was $30 million in RTIX’s case. First NBC Bank Holding Company (NASDAQ:FNBC) is the most popular stock in this table. On the other hand FuelCell Energy, Inc. (NASDAQ:FCEL) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks RTI Surgical Inc (NASDAQ:RTIX) 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

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