Hedge Funds Are Dumping Vector Group Ltd (VGR)

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. It’s worth mentioning that Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital cut the biggest position of all the investors tracked by Insider Monkey, totaling an estimated $22.1 million in stock. D E Shaw also said goodbye to its stock, about $1.8 million worth.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Vector Group Ltd (NYSE:VGR) but similarly valued. We will take a look at Masimo Corporation (NASDAQ:MASI), Home Bancshares Inc (NASDAQ:HOMB), Convergys Corporation (NYSE:CVG), and Horizon Pharma Inc (NASDAQ:HZNP). All of these stocks’ market caps resemble VGR’s market cap.

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 $269 million. That figure was $165 million in VGR’s case. Horizon Pharma Inc (NASDAQ:HZNP) is the most popular stock in this table. On the other hand Home Bancshares Inc (NASDAQ:HOMB) is the least popular one with only 9 bullish hedge fund positions. Vector Group Ltd (NYSE:VGR) 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 HZNP might be a better candidate to consider taking a long position in.

Disclosure: None