Is Snyder S Lance Inc (LNCE) A Good Stock To Buy?

Due to the fact that Snyder S Lance Inc (NASDAQ:LNCE) has faced a decline in interest from the smart money, we can see that there were a few hedge funds that slashed their full holdings in the third quarter. Intriguingly, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital cashed in the biggest position of all the investors studied by Insider Monkey, valued at about $13.8 million in stock, and Jim Simons’ Renaissance Technologies was right behind this move, as the fund dropped about $9.1 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to Snyder S Lance Inc (NASDAQ:LNCE). We will take a look at Yelp Inc (NYSE:YELP), The Hanover Insurance Group, Inc. (NYSE:THG), Catalent Inc (NYSE:CTLT), and Cedar Fair, L.P. (NYSE:FUN). All of these stocks’ market caps are similar to LNCE’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
YELP 40 1087703 -5
THG 16 172459 -3
CTLT 18 132067 6
FUN 12 160605 2

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $388 million. That figure was $136 million in LNCE’s case. Yelp Inc (NYSE:YELP) is the most popular stock in this table. On the other hand Cedar Fair, L.P. (NYSE:FUN) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Snyder S Lance Inc (NASDAQ:LNCE) is even less popular than FUN. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock.

Disclosure: None