Here is What Hedge Funds Think About Wesco Aircraft Holdings Inc (WAIR)

Because Wesco Aircraft Holdings Inc (NYSE:WAIR) has encountered declining sentiment from hedge fund managers, it’s easy to see that there exists a select few hedgies who were dropping their positions entirely last quarter. Interestingly, Ken Griffin’s Citadel Investment Group cashed in the biggest stake of all the hedgies studied by Insider Monkey, comprising about $0.5 million in stock. Gavin Saitowitz and Cisco J. del Valle’s fund, Springbok Capital, also cut its stock, about $0.3 million worth of WAIR shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Wesco Aircraft Holdings Inc (NYSE:WAIR) but similarly valued. These stocks are Central Garden & Pet Co (NASDAQ:CENT), Hollysys Automation Technologies Ltd (NASDAQ:HOLI), WMS Industries Inc. (NYSE:WMS), and Magellan Health Services Inc (NASDAQ:MGLN). This group of stocks’ market caps match WAIR’s market cap.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $178 million. That figure was $278 million in WAIR’s case. Central Garden & Pet Co (NASDAQ:CENT) is the most popular stock in this table. On the other hand WMS Industries Inc. (NYSE:WMS) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Wesco Aircraft Holdings Inc (NYSE:WAIR) is even less popular than WMS. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None