Here is What Hedge Funds Think About AmTrust Financial Services Inc (AFSI)

On the other hand, a number of funds decided to close their entire stakes in AmTrust Financial Services between July and September. At the top of the heap, Glenn Russell Dubin’s Highbridge Capital Management said goodbye to the largest investment of all the investors monitored by Insider Monkey, comprising an estimated $11.8 million in stock. George Hall’s fund, Clinton Group, also said goodbye to its stock, about $1.2 million worth.

Let’s now review hedge fund activity in other stocks similar to AmTrust Financial Services Inc (NASDAQ:AFSI). We will take a look at Banco Macro SA (ADR) (NYSE:BMA), AECOM Technology Corp (NYSE:ACM), Servicemaster Global Holdings Inc (NYSE:SERV), and Howard Hughes Corp (NYSE:HHC). All of these stocks’ market caps resemble AFSI’s market cap.

As you can see these stocks had an average of 26 funds with bullish positions and the average amount invested in these stocks was $706 million. That figure was $211 million in AFSI’s case. Servicemaster Global Holdings Inc (NYSE:SERV) is the most popular stock in this table, while Banco Macro SA (ADR) (NYSE:BMA) is the least popular one with only 18 bullish hedge fund positions. AmTrust Financial Services Inc (NASDAQ:AFSI) 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 Servicemaster Global Holdings Inc (NYSE:SERV) might be a better candidate to consider taking a long position in.

Disclosure: none