Judging by the fact that Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI) has faced a declination in interest from hedge fund managers, it’s easy to see that there exists a select few hedge funds that elected to cut their full holdings heading into Q4. It’s worth mentioning that Andy Redleaf’s Whitebox Advisors said goodbye to the biggest position of the 700 funds watched by Insider Monkey, worth an estimated $1.4 million position of call options underlying shares. Matthew Hulsizer’s fund, PEAK6 Capital Management, also sold off its position of call options, about $0.6 million worth. These bearish behaviors are important to note, as total hedge fund interest fell by 1 fund heading into Q4.
Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI) but similarly valued. These stocks are TriCo Bancshares (NASDAQ:TCBK), Regenxbio Inc (NASDAQ:RGNX), U.S. Physical Therapy, Inc. (NYSE:USPH), and Habit Restaurants Inc (NASDAQ:HABT). This group of stocks’ market valuations are similar to HASI’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 11.75 hedge funds with bullish positions and the average amount invested in these stocks was $80 million. That figure was $45 million in HASI’s case. Regenxbio Inc (NASDAQ:RGNX) is the most popular stock in this table. On the other hand Habit Restaurants Inc (NASDAQ:HABT) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI) is even less popular than Habit Restaurants. 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.