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Is DHT Holdings Inc (DHT) About to Sink? Hedge Funds Are Fleeing

Due to the fact that DHT Holdings Inc (NYSE:DHT) has gone through declining sentiment from the smart money, it’s easy to see that there were a few hedgies who were dropping their positions entirely heading into Q4. It’s worth mentioning that Simon Sadler’s Segantii Capital said goodbye to the biggest investment of the 700 funds tracked by Insider Monkey, worth close to $3.9 million in stock, and Israel Englander’s Millennium Management was right behind this move, as the fund dropped about $3.8 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to DHT Holdings Inc (NYSE:DHT). These stocks are Lakeland Bancorp, Inc. (NASDAQ:LBAI), Kforce Inc. (NASDAQ:KFRC), Aerie Pharmaceuticals Inc (NASDAQ:AERI), and AtriCure Inc. (NASDAQ:ATRC). This group of stocks’ market valuations are closest to DHT’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LBAI 8 17028 1
KFRC 8 21991 -6
AERI 31 395104 14
ATRC 17 43840 2

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $119 million. That figure was $24 million in DHT’s case. Aerie Pharmaceuticals Inc (NASDAQ:AERI) is the most popular stock in this table. On the other hand Lakeland Bancorp, Inc. (NASDAQ:LBAI) is the least popular one with only 8 bullish hedge fund positions. DHT Holdings Inc (NYSE:DHT) 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 AERI might be a better candidate to consider taking a long position in.

Disclosure: None

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