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Should You Buy Calgon Carbon Corporation (CCC)?

Because Calgon Carbon Corporation (NYSE:CCC) has experienced a declination in interest from the entirety of the hedge funds we track, we can see that there was a specific group of hedge funds that decided to sell off their positions entirely in the third quarter. Intriguingly, Peter Muller’s PDT Partners said goodbye to the biggest position of the 700 funds followed by Insider Monkey, totaling an estimated $1 million in stock, and Cliff Asness’ AQR Capital Management was right behind this move, as the fund sold off about $0.3 million worth of shares. These moves are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now review hedge fund activity in other stocks similar to Calgon Carbon Corporation (NYSE:CCC). We will take a look at Inland Real Estate Corporation (NYSE:IRC), GTT Communications Inc (NYSE:GTT), Steiner Leisure Ltd (NASDAQ:STNR), and Chesapeake Utilities Corporation (NYSE:CPK). This group of stocks’ market values resemble Calgon Carbon Corporation (NYSE:CCC)’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
IRC 10 34926 1
GTT 12 133475 0
STNR 14 151530 4
CPK 10 39046 3

As you can see, these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $90 million. That figure was $15 million in Calgon Carbon Corporation (NYSE:CCC)’s case. Steiner Leisure Ltd (NASDAQ:STNR) is the most popular stock in this table. On the other hand, Inland Real Estate Corporation (NYSE:IRC) is the least popular one with only 10 bullish hedge fund positions. Calgon Carbon Corporation (NYSE:CCC) 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, Steiner Leisure Ltd (NASDAQ:STNR) might be a better candidate to consider a long position.

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