Is Ryman Hospitality Properties, Inc. (REIT) (RHP) A Good Stock To Buy?

Due to the fact that Ryman Hospitality Properties, Inc. (REIT) (NYSE:RHP) has faced falling interest from hedge fund managers, logic holds that there were a few money managers that elected to cut their positions entirely by the end of the third quarter. At the top of the heap, Bruce Kovner’s Caxton Associates LP got rid of the biggest position of all the investors tracked by Insider Monkey, worth an estimated $1.3 million in stock, and Richard Driehaus’s Driehaus Capital was right behind this move, as the fund cut about $0.4 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to Ryman Hospitality Properties, Inc. (REIT) (NYSE:RHP). We will take a look at WPX Energy Inc (NYSE:WPX), Associated Banc Corp (NYSE:ASB), EnerSys (NYSE:ENS), and Masimo Corporation (NASDAQ:MASI). This group of stocks’ market valuations are closest to RHP’s market valuation.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $255 million. That figure was $352 million in RHP’s case. WPX Energy Inc (NYSE:WPX) is the most popular stock in this table. On the other hand Associated Banc Corp (NYSE:ASB) is the least popular one with only 12 bullish hedge fund positions. Ryman Hospitality Properties, Inc. (REIT) (NYSE:RHP) 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 WPX might be a better candidate to consider taking a long position in.

Disclosure: None