Here Is What Hedge Funds Think About Santander Consumer USA Holdings Inc (SC)

Intriguingly, Anand Parekh’s Alyeska Investment Group said goodbye to the largest investment of all the hedgies monitored by Insider Monkey, worth close to $28.6 million in stock. Julian Robertson’s fund, Tiger Management, also said goodbye to its stock, about $15 million worth. These transactions are interesting, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s go over hedge fund activity in other stocks similar to Santander Consumer USA Holdings Inc (NYSE:SC). These stocks are Varian Medical Systems, Inc. (NYSE:VAR), Fortinet Inc (NASDAQ:FTNT), Restaurant Brands International Inc (NYSE:QSR), and Sunoco Logistics Partners L.P. (NYSE:SXL). This group of stocks’ market values resemble SC’s market value.

As you can see these stocks had an average of 25.25 hedge funds with bullish positions and the average amount invested in these stocks was $840 million. That figure was $1,045 million in SC’s case. Fortinet Inc (NASDAQ:FTNT) is the most popular stock in this table. On the other hand Sunoco Logistics Partners L.P. (NYSE:SXL) is the least popular one with only 9 bullish hedge fund positions. Santander Consumer USA Holdings Inc (NYSE:SC) 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 FTNT might be a better candidate to consider a long position.