Is The Blackstone Group L.P. (BX) Going to Burn These Hedge Funds?

Because The Blackstone Group L.P. (NYSE:BX) has witnessed a declination in interest from the smart money, it’s easy to see that there lies a certain “tier” of fund managers that elected to cut their full holdings heading into Q4. Intriguingly, Andy Redleaf’s Whitebox Advisors dropped the biggest stake of all the hedgies monitored by Insider Monkey, worth close to $3.4 million in stock, and Wojciech Uzdelewicz’s Espalier Global Management was right behind this move, as the fund cut about $2.7 million worth. These transactions are intriguing to say the least, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s check out hedge fund activity in other stocks similar to The Blackstone Group L.P. (NYSE:BX). We will take a look at Automatic Data Processing (NASDAQ:ADP), American Tower Corp (NYSE:AMT), Deutsche Bank AG (USA) (NYSE:DB), and Anthem Inc (NYSE:ANTM). All of these stocks’ market caps match BX’s market cap.

As you can see these stocks had an average of 34 hedge funds with bullish positions and the average amount invested in these stocks was $1649 million. That figure was $406 million in BX’s case. Anthem Inc (NYSE:ANTM) is the most popular stock in this table, while Deutsche Bank AG (USA) (NYSE:DB) is the least popular one. Although the Blackstone Group L.P. (NYSE:BX), with 34 bullish hedge fund positions is not the least popular stock in this group, it has not attracted much attention from investors. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are collectively most fond of, such as ANTM in this particular case.