Is Aspen Technology, Inc. (AZPN) Going to Burn These Hedge Funds?

Due to the fact that Aspen Technology, Inc. (NASDAQ:AZPN) has weathered bearish sentiment from hedge fund managers, logic holds that there exists a select few hedge funds that slashed their positions entirely last quarter. It’s worth mentioning that Josh Goldberg’s G2 Investment Partners Management said goodbye to the largest stake of the 700 funds followed by Insider Monkey, totaling an estimated $1.2 million in call options, and Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital was right behind this move, as the fund said goodbye to about $1.1 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to Aspen Technology, Inc. (NASDAQ:AZPN). These stocks are Compania Cervecerias Unidas S.A. (ADR) (NYSE:CCU), Eagle Materials, Inc. (NYSE:EXP), Investors Bancorp, Inc. (NASDAQ:ISBC), and VWR Corp (NASDAQ:VWR). This group of stocks’ market caps are similar to AZPN’s market cap.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $357 million. That figure was $434 million in AZPN’s case. Eagle Materials, Inc. (NYSE:EXP) is the most popular stock in this table. On the other hand Compania Cervecerias Unidas S.A. (ADR) (NYSE:CCU) is the least popular one with only 10 bullish hedge fund positions. Aspen Technology, Inc. (NASDAQ:AZPN) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard EXP might be a better candidate to consider taking a long position in.

Disclosure: None