Hedge Funds Aren’t Crazy About NetGear, Inc. (NTGR) Anymore

Because NetGear, Inc. (NASDAQ:NTGR) has gone through bearish sentiment from the smart money, it’s easy to see that there was a specific group of money managers that slashed their positions entirely in the third quarter. Intriguingly, Neil Chriss’s Hutchin Hill Capital dumped the biggest stake of the 700 funds followed by Insider Monkey, comprising close to $1.5 million in stock. Dmitry Balyasny’s fund, Balyasny Asset Management, also said goodbye to its stock, about $0.6 million worth of NTGR shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as NetGear, Inc. (NASDAQ:NTGR) but similarly valued. We will take a look at Aircastle Limited (NYSE:AYR), Viavi Solutions Inc (NASDAQ:VIAV), Caesars Acquisition Company (NASDAQ:CACQ), and Mobile Mini Inc (NASDAQ:MINI). This group of stocks’ market valuations match NTGR’s market valuation.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $189 million. That figure was $139 million in NTGR’s case. Viavi Solutions Inc (NASDAQ:VIAV) is the most popular stock in this table. On the other hand Mobile Mini Inc (NASDAQ:MINI) is the least popular one with only 8 bullish hedge fund positions. NetGear, Inc. (NASDAQ:NTGR) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard VIAV might be a better candidate to consider taking a long position in.

Disclosure: none.