Here is What Hedge Funds Think About Era Group Inc (ERA)

We already know that not all hedge funds are bullish on the stock and some hedge funds actually got rid of their positions entirely. At the top of the heap, Jim Simons’ Renaissance Technologies got rid of the largest stake of the “upper crust” of funds studied by Insider Monkey, totaling about $0.2 million in stock. Peter Rathjens, Bruce Clarke and John Campbell’s fund, Arrowstreet Capital, also said goodbye to its stock, about $0.1 million worth.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Era Group Inc (NYSE:ERA) but similarly valued. We will take a look at Century Casinos, Inc. (NASDAQ:CNTY), Mediwound Ltd (NASDAQ:MDWD), PFSweb, Inc. (NASDAQ:PFSW), and Jamba, Inc. (NASDAQ:JMBA). This group of stocks’ market valuations are similar to ERA’s market valuation.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $28 million. That figure was $26 million in ERA’s case. PFSweb, Inc. (NASDAQ:PFSW) is the most popular stock in this table. On the other hand Mediwound Ltd (NASDAQ:MDWD) is the least popular one with only 5 bullish hedge fund positions. Era Group Inc (NYSE:ERA) 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 PFSW might be a better candidate to consider taking a long position in.

Disclosure: None