Here is What Hedge Funds Think About Green Dot Corporation (GDOT)

We already know that not all hedge funds are bullish on the stock and some hedge funds actually said goodbye to their positions entirely. It’s worth mentioning that John Fichthorn’s Dialectic Capital Management said goodbye to the biggest position of all the hedgies tracked by Insider Monkey, worth about $2.1 million in call options.. Matthew Hulsizer’s fund, PEAK6 Capital Management, also sold off its call options, about $0.5 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to Green Dot Corporation (NYSE:GDOT). We will take a look at Amplify Snack Brands Inc (NYSE:BETR), Innospec Inc. (NASDAQ:IOSP), NuStar GP Holdings, LLC (NYSE:NSH), and Nuveen Credit Strategies Income Fund (NYSE:JQC). This group of stocks’ market caps match GDOT’s market cap.

As you can see these stocks had an average of nine funds with bullish positions and the average amount invested in these stocks was $43 million. That figure was $180 million in GDOT’s case. Innospec Inc. (NASDAQ:IOSP) is the most popular stock in this table. On the other hand NuStar GP Holdings, LLC (NYSE:NSH) is the least popular one with only four investors having reported positions. Green Dot Corporation (NYSE:GDOT) 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 Innospec Inc. (NASDAQ:IOSP) might be a better candidate to consider taking a long position in.