Here is What Hedge Funds Think About Charles River Laboratories (CRL)

Due to the fact that Charles River Laboratories (NYSE:CRL) has experienced declining sentiment from hedge fund managers, we can see that there is a sect of hedge funds that elected to cut their full holdings last quarter. Intriguingly, Phill Gross and Robert Atchinson’s Adage Capital Management dumped the biggest stake of the “upper crust” of funds followed by Insider Monkey, totaling about $14.1 million in stock. Steve Cohen’s fund, Point72 Asset Management, also dropped its stock, about $13 million worth. These transactions are important to note, as aggregate hedge fund interest fell by 3 funds last quarter.

Let’s also examine hedge fund activity in other stocks similar to Charles River Laboratories (NYSE:CRL). These stocks are Leidos Holdings Inc (NYSE:LDOS), EPR Properties (NYSE:EPR), YY Inc (ADR) (NASDAQ:YY), and Radius Health Inc (NASDAQ:RDUS). All of these stocks’ market caps are similar to CRL’s market cap.

As you can see these stocks had an average of 20.75 hedge funds with bullish positions and the average amount invested in these stocks was $253 million. That figure was $397 million in CRL’s case. Leidos Holdings Inc (NYSE:LDOS) is the most popular stock in this table. On the other hand EPR Properties (NYSE:EPR) is the least popular one with only 18 bullish hedge fund positions. Compared to these stocks Charles River Laboratories (NYSE:CRL) 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.