Hedge Funds Aren’t Crazy About Higher One Holdings, Inc (ONE) Anymore

Due to the fact that Higher One Holdings, Inc (NYSE:ONE) has witnessed falling interest from the smart money, it’s easy to see that there is a sect of hedgies that slashed their full holdings by the end of the third quarter. Interestingly, Dmitry Balyasny’s Balyasny Asset Management dropped the largest stake of the 700 funds watched by Insider Monkey, comprising an estimated $0.6 million in stock, and Peter Muller’s PDT Partners was right behind this move, as the fund sold off about $0.3 million worth. These moves are important to note, as total hedge fund interest was cut by 2 funds by the end of the third quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Higher One Holdings, Inc (NYSE:ONE) but similarly valued. These stocks are Carbylan Therapeutics Inc (NASDAQ:CBYL), BIND Therapeutics Inc (NASDAQ:BIND), Intermolecular Inc (NASDAQ:IMI), and Gastar Exploration Limited (USA) (NYSEMKT:GST). This group of stocks’ market valuations resemble ONE’s market valuation.

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $9 million. That figure was $16 million in ONE’s case. Intermolecular Inc (NASDAQ:IMI) is the most popular stock in this table with six funds reporting long positions. On the other hand BIND Therapeutics Inc (NASDAQ:BIND) is the least popular one. Compared to these stocks Higher One Holdings, Inc (NYSE:ONE) 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.