How Hedge Funds Are Trading Forest City Enterprises, Inc. (FCE)

Since Forest City Enterprises, Inc. (NYSE:FCE) has witnessed declining sentiment from the smart money, logic holds that there were a few funds who were dropping their positions entirely by the end of the third quarter. At the top of the heap, Eduardo Abush’s Waterfront Capital Partners said goodbye to the largest position of all the hedgies followed by Insider Monkey, valued at an estimated $21.4 million in stock, and Geoffrey Raynor’s Q Investments (Specter Holdings) was right behind this move, as the fund dumped about $7.6 million worth. These moves are interesting, as total hedge fund interest dropped by 1 funds by the end of the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Forest City Enterprises, Inc. (NYSE:FCE). These stocks are Old Dominion Freight Line (NASDAQ:ODFL), Flowers Foods, Inc. (NYSE:FLO), Anacor Pharmaceuticals Inc (NASDAQ:ANAC), and Teleflex Incorporated (NYSE:TFX). This group of stocks’ market valuations are similar to FCE’s market valuation.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $641 million. Anacor Pharmaceuticals Inc (NASDAQ:ANAC) is the most popular stock in this table with 36 long positions, while Flowers Foods, Inc. (NYSE:FLO) is the least popular one. Compared to these stocks Forest City Enterprises, Inc. (NYSE:FCE) is more popular among hedge funds. Moreover, the aggregate value of hedge funds’ holdings in FCE’s case stands at $1.57 billion. 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.