Redwood Trust, Inc. (RWT): Hedge Fund Sentiment Unchanged

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cashed in their positions entirely. At the top of the heap, Mike Vranos’s Ellington cashed in the largest investment of all the hedgies followed by Insider Monkey, totaling an estimated $0.1 million in stock, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital was right behind this move, as the fund sold off about $0 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to Redwood Trust, Inc. (NYSE:RWT). These stocks are Ascena Retail Group Inc (NASDAQ:ASNA), Caleres Inc (NYSE:CAL), Standard Motor Products, Inc. (NYSE:SMP), and Transportadora de Gas del Sur SA (ADR) (NYSE:TGS). This group of stocks’ market values match RWT’s market value.

As you can see these stocks had an average of 15.25 hedge funds with bullish positions and the average amount invested in these stocks was $99 million. That figure was $141 million in RWT’s case. Ascena Retail Group Inc (NASDAQ:ASNA) is the most popular stock in this table. On the other hand Transportadora de Gas del Sur SA (ADR) (NYSE:TGS) is the least popular one with only 6 bullish hedge fund positions. Redwood Trust, Inc. (NYSE:RWT) 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 ASNA might be a better candidate to consider taking a long position in.

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Disclosure: None