Hedge Funds Are Selling Cutera, Inc. (CUTR)

Due to the fact that Cutera, Inc. (NASDAQ:CUTR) has experienced a declining sentiment from the aggregate hedge fund industry, we can see that there lies a certain “tier” of hedge funds that elected to cut their entire stakes last quarter. It’s worth mentioning that Richard Mashaal’s Rima Senvest Management cut the largest stake of all the hedgies followed by Insider Monkey, valued at an estimated $17.7 million in stock. Peter Muller’s fund, PDT Partners, also said goodbye to its stock, about $0.4 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 3 funds last quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Cutera, Inc. (NASDAQ:CUTR) but similarly valued. We will take a look at Garnero Group Acquisition Co (NASDAQ:GGAC), Clearfield, Inc. (NASDAQ:CLFD), Old Second Bancorp Inc. (NASDAQ: OSBC), and Affimed NV (NASDAQ:AFMD). This group of stocks’ market values matches Cutera, Inc. (NASDAQ:CUTR)’s market value.

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 $29 million. That figure was $44 million in Cutera, Inc. (NASDAQ:CUTR)’s case. Affimed NV (NASDAQ:AFMD) is the most popular stock in this table. On the other hand, Garnero Group Acquisition Co (NASDAQ:GGAC) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks, Cutera, Inc. (NASDAQ:CUTR) 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.