Hedge Funds Aren’t Crazy About TeleTech Holdings, Inc. (TTEC) Anymore

Judging by the fact that TeleTech Holdings, Inc. (NASDAQ:TTEC) has experienced a declining sentiment from the smart money, it’s easy to see that there were a few money managers that elected to cut their full holdings last quarter. Interestingly, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital got rid of the largest stake of the 700 funds followed by Insider Monkey, worth close to $2.2 million in stock. Matthew Tewksbury’s fund, Stevens Capital Management, also dropped its stock, about $0.2 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to TeleTech Holdings, Inc. (NASDAQ:TTEC). We will take a look at Fidelity & Guaranty Life (NYSE:FGL), The St. Joe Company (NYSE:JOE), Group 1 Automotive, Inc. (NYSE:GPI), and ServisFirst Bancshares, Inc. (NASDAQ:SFBS). This group of stocks’ market values match TTEC’s market value.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $222 million. That figure was $18 million in TTEC’s case. Group 1 Automotive, Inc. (NYSE:GPI) is the most popular stock in this table. On the other hand ServisFirst Bancshares, Inc. (NASDAQ:SFBS) is the least popular one with only 6 bullish hedge fund positions. TeleTech Holdings, Inc. (NASDAQ:TTEC) 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 GPI might be a better candidate to consider taking a long position in.

Disclosure: None