Is Finish Line Inc (FINL) Going to Burn These Hedge Funds?

Since Finish Line Inc (NASDAQ:FINL) has experienced declining sentiment from the entirety of the hedge funds we track, logic holds that there lies a certain “tier” of money managers that elected to cut their full holdings by the end of the third quarter. At the top of the heap, Gregg Moskowitz’s Interval Partners cut the biggest stake of all the investors monitored by Insider Monkey, valued at about $16.2 million in stock. D E Shaw, also dropped its stock, about $7.8 million worth.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Finish Line Inc (NASDAQ:FINL) but similarly valued. These stocks are Chesapeake Utilities Corporation (NYSE:CPK), ScanSource, Inc. (NASDAQ:SCSC), Brooks Automation, Inc. (USA) (NASDAQ:BRKS), and HudBay Minerals Inc Ord Shs (NYSE:HBM). All of these stocks’ market caps are similar to FINL’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $63 million. That figure was $29 million in FINL’s case. ScanSource, Inc. (NASDAQ:SCSC) is the most popular stock in this table. On the other hand HudBay Minerals Inc Ord Shs (NYSE:HBM) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Finish Line Inc (NASDAQ:FINL) 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.

Disclosure: None