Here is What Hedge Funds Think About Trupanion Inc (TRUP)

Judging by the fact that Trupanion Inc (NYSE:TRUP) has experienced a declination in interest from hedge fund managers, it’s easy to see that there is a sect of hedgies who sold off their positions entirely last quarter. Intriguingly, Frank Slattery’s Symmetry Peak Management cut the biggest investment of the “upper crust” of funds tracked by Insider Monkey, valued at about $1.7 million in stock, and Hal Mintz’s Sabby Capital was right behind this move, as the fund dumped about $1.3 million worth of shares. These transactions are interesting, as total hedge fund interest was cut by 3 funds last quarter.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Trupanion Inc (NYSE:TRUP) but similarly valued. We will take a look at Gladstone Investment Corporation (NASDAQ:GAIN), Second Sight Medical Products Inc (NASDAQ:EYES), SeaChange International (NASDAQ:SEAC), and FreightCar America, Inc. (NASDAQ:RAIL). All of these stocks’ market caps are similar to TRUP’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $17 million. FreightCar America, Inc. (NASDAQ:RAIL) is the most popular stock in this table. On the other hand Second Sight Medical Products Inc (NASDAQ:EYES) is the least popular one with only 4 bullish hedge fund positions. Trupanion Inc (NYSE:TRUP) 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 RAIL might be a better candidate to consider a long position.