How Richmont Mines Inc. (USA) (RIC) Stacks Up Against Its Peers

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that sold off their entire stakes in the stock during the third quarter. It’s worth mentioning that Glenn Russell Dubin’s Highbridge Capital Management sold off the biggest position of all the investors monitored by Insider Monkey, comprising about $0.6 million in stock, and Matthew Hulsizer’s PEAK6 Capital Management was right behind this move, as the fund dropped about $0.1 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Richmont Mines Inc. (USA) (NYSEMKT:RIC) but similarly valued. These stocks are Cass Information Systems (NASDAQ:CASS), Diamond Hill Investment Group, Inc. (NASDAQ:DHIL), EPIQ Systems, Inc. (NASDAQ:EPIQ), and WCI Communities Inc (NYSE:WCIC). All of these stocks’ market caps resemble RIC’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CASS 5 8387 -1
DHIL 5 63669 -1
EPIQ 9 115942 -2
WCIC 14 120478 2

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $77 million. That figure was $75 million in RIC’s case. WCI Communities Inc (NYSE:WCIC) is the most popular stock in this table. On the other hand Cass Information Systems (NASDAQ:CASS) is the least popular one with only 5 bullish hedge fund positions. Richmont Mines Inc. (USA) (NYSEAMEX:RIC) 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 WCIC might be a better candidate to consider taking a long position in.

Disclosure: None