We already know that not all hedge funds are bullish on the stock and some hedge funds actually dropped their positions entirely. At the top of the heap, David Halpert’s Prince Street Capital Management dropped the biggest investment of the “upper crust” of funds studied by Insider Monkey, comprising about $1.3 million in stock, and Benjamin A. Smith’s Laurion Capital Management was right behind this move, as the fund said goodbye to about $1.2 million worth of shares.
Let’s now take a look at hedge fund activity in other stocks similar to Grupo Supervielle SA -ADR (NYSE:SUPV). We will take a look at Marcus & Millichap Inc (NYSE:MMI), Surgery Partners Inc (NASDAQ:SGRY), Lannett Company, Inc. (NYSEAMEX:LCI), and Array Biopharma Inc (NASDAQ:ARRY). This group of stocks’ market valuations match SUPV’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
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 $152 million. That figure was $168 million in SUPV’s case. Array Biopharma Inc (NASDAQ:ARRY) is the most popular stock in this table. On the other hand Surgery Partners Inc (NASDAQ:SGRY) is the least popular one with only 7 bullish hedge fund positions. Grupo Supervielle SA -ADR (NYSE:SUPV) 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 ARRY might be a better candidate to consider taking a long position in.