Is Hornbeck Offshore Services, Inc. (HOS) Going to Burn These Hedge Funds?

Seeing as Hornbeck Offshore Services, Inc. (NYSE:HOS) has witnessed a decline in interest from the smart money, we can see that there exists a select few funds that decided to sell off their positions entirely by the end of the third quarter. Intriguingly, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital dumped the biggest stake of the 700 funds monitored by Insider Monkey, valued at about $0.5 million in stock, and Jonathan Lennon’s Pleasant Lake Partners was right behind this move, as the fund dumped about $0.4 million worth of HOS shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Hornbeck Offshore Services, Inc. (NYSE:HOS) but similarly valued. We will take a look at Peapack-Gladstone Financial Corp (NASDAQ:PGC), Atlantic Power Corp (NYSE:AT), Grupo Aeroportuario del Centro Nort(ADR) (NASDAQ:OMAB), and Arlington Asset Investment Corp (NYSE:AI). This group of stocks’ market caps are similar to HOS’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $40 million. That figure was $78 million in HOS’s case. Atlantic Power Corp (NYSE:AT) is the most popular stock in this table. On the other hand Grupo Aeroportuario del Centro Nort(ADR) (NASDAQ:OMAB) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Hornbeck Offshore Services, Inc. (NYSE:HOS) 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