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Is Franklin Street Properties Corp. (FSP) A Good Stock To Buy?

Since Franklin Street Properties Corp. (NYSEAMEX:FSP) has faced falling interest from hedge fund managers, we can see that there was a specific group of money managers who sold off their full holdings by the end of the third quarter. Intriguingly, D. E. Shaw’s D E Shaw said goodbye to the largest stake of all the hedgies tracked by Insider Monkey, comprising close to $0.4 million in stock. John Overdeck and David Siegel’s fund, Two Sigma Advisors, also dumped its stock, about $0.1 million worth.

Let’s go over hedge fund activity in other stocks similar to Franklin Street Properties Corp. (NYSEAMEX:FSP). We will take a look at WesBanco, Inc. (NASDAQ:WSBC), Shake Shack Inc (NYSE:SHAK), Stratasys, Ltd. (NASDAQ:SSYS), and Cempra Inc (NASDAQ:CEMP). This group of stocks’ market caps are closest to FSP’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
WSBC 7 16798 1
SHAK 11 85967 -3
SSYS 18 143762 6
CEMP 15 164527 1

As you can see these stocks had an average of 12.75 hedge funds with bullish positions and the average amount invested in these stocks was $103 million. That figure was $66 million in FSP’s case. Stratasys, Ltd. (NASDAQ:SSYS) is the most popular stock in this table. On the other hand WesBanco, Inc. (NASDAQ:WSBC) is the least popular one with only 7 bullish hedge fund positions. Franklin Street Properties Corp. (NYSEAMEX:FSP) 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 SSYS might be a better candidate to consider taking a long position in.

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