It’s worth mentioning that Daniel Lascano’s Lomas Capital Management dumped the largest stake of all the hedgies watched by Insider Monkey, worth close to $13.4 million in stock. Jim Simons’ fund, Renaissance Technologies, also cut its stock, about $8.2 million worth. These moves are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
Let’s check out hedge fund activity in other stocks similar to Ferro Corporation (NYSE:FOE). These stocks are Linn Energy LLC (NASDAQ:LINE), Cato Corp (NYSE:CATO), The Andersons, Inc. (NASDAQ:ANDE), and Stewart Information Services Corp (NYSE:STC). This group of stocks’ market values resemble FOE’s market value.
|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 $94 million. That figure was $283 million in FOE’s case. Stewart Information Services Corp (NYSE:STC) is the most popular stock in this table. On the other hand Linn Energy LLC (NASDAQ:LINE) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Ferro Corporation (NYSE:FOE) 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.