Due to the fact that Jones Energy Inc (NYSE:JONE) has weathered declining sentiment from the aggregate hedge fund industry, it’s safe to say that there lies a certain “tier” of hedge funds that elected to cut their full holdings in the third quarter. Intriguingly, Geoffrey Raynor’s Q Investments (Specter Holdings) dumped the biggest investment of all the hedgies monitored by Insider Monkey, valued at an estimated $1.1 million in stock, and Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners was right behind this move, as the fund dropped about $0.1 million worth of shares.
Let’s also examine hedge fund activity in other stocks similar to Jones Energy Inc (NYSE:JONE). These stocks are INVUITY INC COM USD0.001 (NASDAQ:IVTY), Alico, Inc. (NASDAQ:ALCO), Nathan’s Famous, Inc. (NASDAQ:NATH), and Cascadian Therapeutics Inc (USA) (NASDAQ:CASC). This group of stocks’ market values are similar to JONE’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| IVTY | 11 | 45090 | 5 |
| ALCO | 6 | 37250 | 0 |
| NATH | 5 | 28177 | -1 |
| CASC | 11 | 88603 | -3 |
As you can see these stocks had an average of eight funds with bullish positions and the average amount invested in these stocks was $50 million. That figure was $24 million in JONE’s case. INVUITY INC COM USD0.001 (NASDAQ:IVTY) and Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) are the most popular stocks in this table. On the other hand Nathan’s Famous, Inc. (NASDAQ:NATH) is the least popular one with only five bullish hedge fund positions. Compared to these stocks Jones Energy Inc (NYSE:JONE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.
Disclosure: none
