Smart Money Has A Lot Invested In American Axle & Manufact. Holdings, Inc. (AXL)

Because American Axle & Manufact. Holdings, Inc. (NYSE:AXL) has experienced falling interest from the smart money, it’s easy to see that there exists a select few money managers that slashed their positions entirely last quarter. Intriguingly, Glenn Russell Dubin’s Highbridge Capital Management sold off the largest position of all the hedgies followed by Insider Monkey, comprising an estimated $5.6 million in stock. Matthew Tewksbury’s fund, Stevens Capital Management, also said goodbye to its stock, about $2.2 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest dropped by 3 funds last quarter.

Let’s now take a look at hedge fund activity in other stocks similar to American Axle & Manufact. Holdings, Inc. (NYSE:AXL). These stocks are Paylocity Holding Corp (NASDAQ:PCTY), Ship Finance International Limited (NYSE:SFL), Eagle Bancorp, Inc. (NASDAQ:EGBN), and OSI Systems, Inc. (NASDAQ:OSIS). This group of stocks’ market valuations resemble American Axle & Manufact. Holdings, Inc.’s market valuation.

As you can see these stocks had an average of 14.25 hedge funds with bullish positions and the average amount invested in these stocks was $71 million. That figure was $298 million in American Axle & Manufact. Holdings, Inc.’s case. Paylocity Holding Corp (NASDAQ:PCTY) is the most popular stock in this table. On the other hand Eagle Bancorp, Inc. (NASDAQ:EGBN) is the least popular one with only 11 bullish hedge fund positions. American Axle & Manufact. Holdings, Inc. (NYSE:AXL) is tied for the most popular stock in this group, and has far more money invested in it than any of the other mentioned stocks. This is a positive signal and makes the stock worth considering for a long position.