New Senior Investment Group Inc (SNR): Are Hedge Funds Right About This Stock?

Judging by the fact that New Senior Investment Group Inc (NYSE:SNR) has witnessed falling interest from the entirety of the hedge funds we track, it’s easy to see that there lies a certain “tier” of hedgies that slashed their entire stakes last quarter. It’s worth mentioning that Jason Karp’s Tourbillon Capital Partners cut the largest stake of the 700 funds followed by Insider Monkey, comprising close to $6.7 million in stock. Nick Niell’s fund, Arrowgrass Capital Partners, also dumped its stock, about $6.6 million worth of SNR shares. These moves are important to note, as total hedge fund interest fell by 10 funds last quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as New Senior Investment Group Inc (NYSE:SNR) but similarly valued. We will take a look at Just Energy Group, Inc. Ordinary Shares (Canada) (NYSE:JE), HeartWare International Inc (NASDAQ:HTWR), Golar LNG Partners LP (NASDAQ:GMLP), and Rouse Properties Inc (NYSE:RSE). This group of stocks’ market caps match SNR’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $87 million. That figure was $262 million in SNR’s case. HeartWare International Inc (NASDAQ:HTWR) is the most popular stock in this table. On the other hand Golar LNG Partners LP (NASDAQ:GMLP) is the least popular one with only 4 bullish hedge fund positions. New Senior Investment Group Inc (NYSE:SNR) 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 HTWR might be a better candidate to consider a long position.