How Bonanza Creek Energy Inc (BCEI) Stacks Up In Relation to Its Peers

Due to the fact that Bonanza Creek Energy Inc (NYSE:BCEI) has witnessed falling interest from hedge fund managers, it’s safe to say that there exists a select few money managers who were dropping their full holdings by the end of the third quarter. At the top of the heap, Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners dumped the largest position of the “upper crust” of funds followed by Insider Monkey, worth close to $3.5 million in stock. Citadel Investment Group also dropped its stock, about $1.3 million worth.

Let’s now review hedge fund activity in other stocks similar to Bonanza Creek Energy Inc (NYSE:BCEI). We will take a look at hhgregg, Inc. (NYSE:HGG), Repros Therapeutics Inc (NASDAQ:RPRX), Jason Industries Inc (NASDAQ:JASN), and TransAtlantic Petroleum Ltd (NYSEAMEX:TAT). This group of stocks’ market valuations are closest to BCEI’s market valuation.

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $7 million. That figure was $5 million in BCEI’s case. Jason Industries Inc (NASDAQ:JASN) is the most popular stock in this table. On the other hand Repros Therapeutics Inc (NASDAQ:RPRX) is the least popular one with only 2 bullish hedge fund positions. Bonanza Creek Energy Inc (NYSE:BCEI) 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 JASN might be a better candidate to consider taking a long position in.

Disclosure: None