Judging by the fact that Air Transport Services Group Inc. (NASDAQ:ATSG) has faced a declination in interest from the entirety of the hedge funds we track, it’s safe to say that there exists a select few funds that decided to sell off their positions entirely by the end of the third quarter. It’s worth mentioning that Marc Lehmann’s Riverloft Capital Management sold off the largest investment of the “upper crust” of funds tracked by Insider Monkey, comprising close to $1 million in stock. Andy Redleaf’s fund, Whitebox Advisors, also sold off its stock, about $0.7 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest was cut by 3 funds by the end of the third quarter.
Let’s now take a look at hedge fund activity in other stocks similar to Air Transport Services Group Inc. (NASDAQ:ATSG). These stocks are Sapiens International Corporation N.V. (NASDAQ:SPNS), Bryn Mawr Bank Corp. (NASDAQ:BMTC), MYR Group Inc (NASDAQ:MYRG), and Triangle Capital Corporation (NYSE:TCAP). This group of stocks’ market valuations resemble ATSG’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 9.5 hedge funds with bullish positions and the average amount invested in these stocks was $37 million. That figure was $197 million in ATSG’s case. MYR Group Inc (NASDAQ:MYRG) is the most popular stock in this table. On the other hand Triangle Capital Corporation (NYSE:TCAP) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Air Transport Services Group Inc. (NASDAQ:ATSG) 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.