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The Latest Smart Money Sentiment Towards Hannon Armstrong Sustnbl Infrstr Cap Inc (HASI)

The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors endured a turbulent quarter, which certainly propelled them to adjust their equity holdings so as to maintain their desired risk profile. As a result, the relevancy of these public filings and their content is indisputable, as they may reveal numerous high-potential stocks. The following article will discuss the smart money sentiment towards Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI).

Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI) was in 8 hedge funds’ portfolios at the end of September. HASI shareholders have witnessed a decrease in activity from the world’s largest hedge funds in recent months. There were 9 hedge funds in our database with HASI holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as TriCo Bancshares (NASDAQ:TCBK), Regenxbio Inc (NASDAQ:RGNX), and U.S. Physical Therapy, Inc. (NYSE:USPH) to gather more data points.

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To most stock holders, hedge funds are viewed as worthless, old investment tools of the past. While there are over 8,000 funds with their doors open today, our researchers look at the crème de la crème of this club, around 700 funds. Most estimates calculate that this group of people have their hands on bulk of the hedge fund industry’s total capital, and by keeping track of their finest stock picks, Insider Monkey has unearthed many investment strategies that have historically outrun the market. Insider Monkey’s small-cap hedge fund strategy defeated the S&P 500 index by 12 percentage points per year for a decade in their back tests.

Now, we’re going to analyze the latest action encompassing Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI).

What does the smart money think about Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI)?

At Q3’s end, a total of 8 of the hedge funds tracked by Insider Monkey held long positions in this stock, a decrease of 11% from one quarter earlier. With the smart money’s capital changing hands, there exists a few key hedge fund managers who were boosting their holdings meaningfully (or had already accumulated large positions).

Of the funds tracked by Insider Monkey, Ardsley Partners, managed by Philip Hempleman, holds the most valuable position in Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI). Ardsley Partners has a $21.4 million position in the stock, comprising 5.2% of its 13F portfolio. The second-largest stake is held by Lorem Ipsum Management, led by John Segrich and Michael Molnar, holding a $9.8 million position; 4.5% of its 13F portfolio is allocated to the company. Remaining peers with similar optimism consist of Renaissance Technologies, Jonathan Barrett and Paul Segal’s Luminus Management, and D E Shaw.

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
TCBK 10 47544 1
RGNX 17 145789 17
USPH 11 89274 1
HABT 9 36045 -2

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.

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