Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Should You Follow the Smart Money Stampede Out of Equity One, Inc. (EQY)?

Judging by the fact that Equity One, Inc. (NYSE:EQY) has faced declining sentiment from hedge fund managers, it’s safe to say that there lies a certain “tier” of hedgies that decided to sell off their full holdings heading into Q4. Interestingly, Benjamin A. Smith’s Laurion Capital Management said goodbye to the largest position of all the investors monitored by Insider Monkey, worth about $4.3 million in stock, and Matthew Hulsizer’s PEAK6 Capital Management was right behind this move, as the fund cut about $2.7 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to Equity One, Inc. (NYSE:EQY). We will take a look at Neurocrine Biosciences, Inc. (NASDAQ:NBIX), Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR), Guidewire Software Inc (NYSE:GWRE), and Ubiquiti Networks Inc (NASDAQ:UBNT). This group of stocks’ market values are closest to EQY’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NBIX 39 635917 0
ASR 9 38120 1
GWRE 22 118946 5
UBNT 15 272438 1

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $266 million. That figure was $93 million in EQY’s case. Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is the most popular stock in this table. On the other hand Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR) is the least popular one with only 9 bullish hedge fund positions. Equity One, Inc. (NYSE:EQY) 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 NBIX might be a better candidate to consider taking a long position in.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.