More And More Hedge Funds Are Selling Silver Bay Realty Trust Corp (SBY)

Because Silver Bay Realty Trust Corp (NYSE:SBY) has experienced a declination in interest from the entirety of the hedge funds we track, it’s safe to say that there is a sect of hedgies that decided to sell off their positions entirely last quarter. It’s worth mentioning that John Khoury’s Long Pond Capital sold off the biggest investment of the 700 funds monitored by Insider Monkey, valued at about $18.6 million in stock. Eric Halet and Davide Serra’s fund, Algebris Investments, also said goodbye to its stock, about $1.3 million worth. These moves are important to note, as total hedge fund interest fell by 4 funds last quarter.

Let’s now review hedge fund activity in other stocks similar to Silver Bay Realty Trust Corp (NYSE:SBY). We will take a look at MakeMyTrip Limited (NASDAQ:MMYT), Universal American Corporation (NYSE:UAM), EDENOR S.A. (ADR) (NYSE:EDN), and Arcos Dorados Holding Inc (NYSE:ARCO). This group of stocks’ market valuations resemble Silver Bay Realty Trust Corp’s market valuation.

As you can see these stocks had an average of 8.5 hedge funds with bullish positions and the average amount invested in these stocks was $72 million. That figure was also $72 million in Silver Bay Realty Trust Corp’s case. MakeMyTrip Limited (NASDAQ:MMYT) is the most popular stock in this table. On the other hand EDENOR S.A. (ADR) (NYSE:EDN) is the least popular one with only 4 bullish hedge fund positions. Silver Bay Realty Trust Corp (NYSE:SBY) is tied for the most popular stock, though it has less money invested in it than MakeMyTrip. However, we’d rather spend our time researching stocks that hedge funds are pouring money into as well. In this regard Universal American Corporation might be a better candidate to consider a long position.