Hedge Funds Are Selling Horace Mann Educators Corporation (HMN)

Because Horace Mann Educators Corporation (NYSE:HMN) has witnessed a declination in interest from hedge fund managers, it’s safe to say that there were a few hedge funds that slashed their full holdings last quarter. At the top of the heap, Matthew Tewksbury’s Stevens Capital Management dropped the biggest stake of all the hedgies monitored by Insider Monkey, worth an estimated $0.4 million in stock. John Overdeck and David Siegel’s fund, Two Sigma Advisors, also sold off its stock, about $0.4 million worth of shares. These moves are important to note, as total hedge fund interest was cut by 1 fund last quarter.

Let’s go over hedge fund activity in other stocks similar to Horace Mann Educators Corporation (NYSE:HMN). These stocks are FCB Financial Holdings Inc (NYSE:FCB), Nordic American Tanker Ltd (NYSE:NAT), DBV Technologies SA – ADR (NASDAQ:DBVT), and Coherent, Inc. (NASDAQ:COHR). This group of stocks’ market values match Horace Mann Educators Corporation (NYSE:HMN)’s market value.

As you can see, these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $175 million. That figure was $52 million in Horace Mann Educators Corporation (NYSE:HMN)’s case. FCB Financial Holdings Inc (NYSE:FCB) is the most popular stock in this table. On the other hand, DBV Technologies SA – ADR (NASDAQ:DBVT) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks, Horace Mann Educators Corporation (NYSE:HMN) is even less popular than DBV Technologies SA – ADR (NASDAQ:DBVT). Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case, more research is warranted.