Orion Group Holdings Inc (ORN): Does It Measure Up To Its Peers Using This Key Metric?

Because Orion Group Holdings Inc (NYSE:ORN) has weathered declining sentiment from the smart money, it’s safe to say that there is a sect of hedgies that slashed their full holdings last quarter. It’s worth mentioning that Cliff Asness’ AQR Capital Management said goodbye to the biggest investment of the 700 funds followed by Insider Monkey, totaling about $0.1 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund also said goodbye to about $0.1 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to Orion Group Holdings Inc (NYSE:ORN). These stocks are Senomyx Inc. (NASDAQ:SNMX), Gladstone Capital Corporation (NASDAQ:GLAD), Arbutus Biopharma Corp (NASDAQ:ABUS), and Cellectis SA (ADR) (NASDAQ:CLLS). All of these stocks’ market caps are similar to ORN’s market cap.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $39 million. That figure was $7 million in ORN’s case. Arbutus Biopharma Corp (NASDAQ:ABUS) is the most popular stock in this table. On the other hand Gladstone Capital Corporation (NASDAQ:GLAD) is the least popular one with only 3 bullish hedge fund positions. Orion Group Holdings Inc (NYSE:ORN) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ABUS might be a better candidate to consider taking a long position in.

Disclosure: None