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Is Evercore Partners Inc. (EVR) A Good Stock To Buy?

Seeing as Evercore Partners Inc. (NYSE:EVR) has experienced bearish sentiment from the aggregate hedge fund industry, logic holds that there was a specific group of fund managers who were dropping their entire stakes by the end of the third quarter. Interestingly, Andrew Sandler’s Sandler Capital Management said goodbye to the biggest stake of the “upper crust” of funds monitored by Insider Monkey, totaling about $6.3 million in stock, and Richard Schimel’s Sterling Ridge Capital Management was right behind this move, as the fund cut about $3.8 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 3 funds by the end of the third quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Evercore Partners Inc. (NYSE:EVR) but similarly valued. These stocks are COMSCORE, Inc. (NASDAQ:SCOR), Boyd Gaming Corporation (NYSE:BYD), National General Holdings Corp (NASDAQ:NGHC), and New Relic Inc (NYSE:NEWR). This group of stocks’ market caps are similar to EVR’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SCOR 30 178273 9
BYD 27 469838 -2
NGHC 19 237109 3
NEWR 17 238661 3

As you can see these stocks had an average of 23.25 hedge funds with bullish positions and the average amount invested in these stocks was $281 million. That figure was $113 million in EVR’s case. COMSCORE, Inc. (NASDAQ:SCOR) is the most popular stock in this table. On the other hand New Relic Inc (NYSE:NEWR) is the least popular one with only 17 bullish hedge fund positions. Evercore Partners Inc. (NYSE:EVR) 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 SCOR might be a better candidate to consider a long position.

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