Here is What Hedge Funds Think About Aspen Insurance Holdings Limited (AHL)

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cut their entire stakes in the stock during the third quarter. Interestingly, Dmitry Balyasny’s Balyasny Asset Management cut the biggest position of the “upper crust” of funds followed by Insider Monkey, comprising an estimated $0.7 million in stock. Paul Marshall and Ian Wace’s fund, Marshall Wace LLP, also dropped its stock, about $0.3 million worth.

Let’s now review hedge fund activity in other stocks similar to Aspen Insurance Holdings Limited (NYSE:AHL). These stocks are Ultragenyx Pharmaceutical Inc (NASDAQ:RARE), Urban Edge Properties (NYSE:UE), PIMCO Dynamic Credit Income Fund (NYSE:PCI), and Metals USA Holdings Corp (NYSE:MUSA). All of these stocks’ market caps match AHL’s market cap.

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 $89 million. That figure was $217 million in AHL’s case. Metals USA Holdings Corp (NYSE:MUSA) is the most popular stock in this table. On the other hand PIMCO Dynamic Credit Income Fund (NYSE:PCI) is the least popular one with only 3 bullish hedge fund positions. Aspen Insurance Holdings Limited (NYSE:AHL) 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 MUSA might be a better candidate to consider taking a long position in.

Disclosure: None