Is OM Asset Management PLC (OMAM) A Good Stock To Buy?

Due to the fact that OM Asset Management PLC (NYSE:OMAM) has experienced declining sentiment from the entirety of the hedge funds we track, logic holds that there is a sect of fund managers that elected to cut their positions entirely last quarter. Interestingly, David Rodriguez-Fraile’s BlueMar Capital Management dumped the biggest investment of the 700 funds monitored by Insider Monkey, worth about $2.4 million in stock. Benjamin A. Smith’s fund, Laurion Capital Management, also sold off its stock, about $1.6 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest dropped by 1 funds last quarter.

Let’s also examine hedge fund activity in other stocks similar to OM Asset Management PLC (NYSE:OMAM). We will take a look at South State Corporation (NASDAQ:SSB), Science Applications International Corp (NYSE:SAIC), Entegris Inc (NASDAQ:ENTG), and Black Hills Corp (NYSE:BKH). This group of stocks’ market values match OMAM’s market value.

As you can see these stocks had an average of 17.25 hedge funds with bullish positions and the average amount invested in these stocks was $183 million. That figure was $99 million in OMAM’s case. Science Applications International Corp (NYSE:SAIC) is the most popular stock in this table. On the other hand South State Corporation (NASDAQ:SSB) is the least popular one with only 12 bullish hedge fund positions. OM Asset Management PLC (NYSE:OMAM) 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 SAIC might be a better candidate to consider a long position.