Spire Inc (SR): Are Hedge Funds Right About This Stock?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually got rid of their positions entirely. It’s worth mentioning that Jos Shaver’s Electron Capital Partners got rid of the largest investment of the 700 funds tracked by Insider Monkey, valued at close to $7.1 million in stock, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital was right behind this move, as the fund said goodbye to about $4.8 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Spire Inc (NYSE:SR) but similarly valued. We will take a look at Belden Inc. (NYSE:BDC), Chemours Co (NYSE:CC), Radian Group Inc (NYSE:RDN), and Physicians Realty Trust (NYSE:DOC). This group of stocks’ market values match SR’s market value.

As you can see these stocks had an average of 23.25 hedge funds with bullish positions and the average amount invested in these stocks was $320 million. That figure was $118 million in SR’s case. Chemours Co (NYSE:CC) is the most popular stock in this table. On the other hand Belden Inc. (NYSE:BDC) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks Spire Inc (NYSE:SR) is even less popular than BDC. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None