Here is What Hedge Funds Think About Cooper-Standard Holdings Inc (CPS)

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. At the top of the heap, Peter S. Park’s Park West Asset Management cut the largest stake of all the hedgies tracked by Insider Monkey, totaling an estimated $23.2 million in stock, and Lee Ainslie’s Maverick Capital was right behind this move, as the fund dropped about $2.9 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to Cooper-Standard Holdings Inc (NYSE:CPS). We will take a look at Ascena Retail Group Inc (NASDAQ:ASNA), Forward Air Corporation (NASDAQ:FWRD), Horace Mann Educators Corporation (NYSE:HMN), and Noah Holdings Limited (ADR) (NYSE:NOAH). All of these stocks’ market caps resemble CPS’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $101 million. That figure was $369 million in CPS’s case. Ascena Retail Group Inc (NASDAQ:ASNA) is the most popular stock in this table. On the other hand Noah Holdings Limited (ADR) (NYSE:NOAH) is the least popular one with only 8 bullish hedge fund positions. Cooper-Standard Holdings Inc (NYSE:CPS) 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 ASNA might be a better candidate to consider taking a long position in.

Disclosure: None