Juniper Networks, Inc. (JNPR): Has Smart Money Ownership Finally Hit Rock-Bottom?

Seeing as Juniper Networks, Inc. (NYSE:JNPR) has weathered falling interest from hedge fund managers, it’s safe to say that there is a sect of money managers who were dropping their entire stakes last quarter. Intriguingly, Citadel Investment Group said goodbye to the biggest investment of all the hedgies tracked by Insider Monkey, valued at an estimated $5.8 million in call options, while retaining its aforementioned long position. Dmitry Balyasny’s fund, Balyasny Asset Management, also dropped its call options, about $2.2 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to Juniper Networks, Inc. (NYSE:JNPR). These stocks are Tripadvisor Inc (NASDAQ:TRIP), Advanced Semiconductor Engineering (ADR) (NYSE:ASX), J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT), and ResMed Inc. (NYSE:RMD). This group of stocks’ market caps are similar to JNPR’s market cap.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $402 million. That figure was $478 million in JNPR’s case. Tripadvisor Inc (NASDAQ:TRIP) is the most popular stock in this table. On the other hand Advanced Semiconductor Engineering (ADR) (NYSE:ASX) is the least popular one with only 15 bullish hedge fund positions. Juniper Networks, Inc. (NYSE:JNPR) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard TRIP might be a better candidate to consider taking a long position in.

Disclosure: None