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Here is What Hedge Funds Think About Sequential Brands Group Inc (SQBG)

As aggregate interest increased, some big names have been driving this bullishness. Buckingham Capital Management established the most outsized position in Sequential Brands Group Inc (NASDAQ:SQBG). D. E. Shaw’s D E Shaw also initiated a $0.6 million position during the quarter. The following funds were also among the new SQBG investors: Israel Englander’s Millennium Management, Jim Simons’s Renaissance Technologies, and Paul Tudor Jones’ Tudor Investment Corp.

Let’s check out hedge fund activity in other stocks similar to Sequential Brands Group Inc (NASDAQ:SQBG). These stocks are CONE Midstream Partners LP (NYSE:CNNX), Flushing Financial Corporation (NASDAQ:FFIC), M/I Homes Inc (NYSE:MHO), and Blueprint Medicines Corp (NASDAQ:BPMC). This group of stocks’ market valuations are closest to SQBG’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CNNX 4 24553 1
FFIC 8 32491 1
MHO 16 61104 7
BPMC 14 153250 0

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $68 million. That figure was $40 million in SQBG’s case. M/I Homes Inc (NYSE:MHO) is the most popular stock in this table, while CONE Midstream Partners LP (NYSE:CNNX) is the least popular one with only 4 bullish hedge fund positions. Sequential Brands Group Inc (NASDAQ:SQBG) 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 MHO might be a better candidate to consider a long position.

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