This Is How Ameresco Inc (AMRC) Stacks Up Against Its Peers

Earlier we told you that the aggregate hedge fund interest in the stock was unchanged and we view this as a negative development. Even though there weren’t any hedge funds dumping their holdings during the third quarter, there weren’t any hedge funds initiating brand new positions either. This indicates that hedge funds, at the very best, perceive this stock as dead money and they haven’t identified any viable catalysts that can attract investor attention.

Let’s also examine hedge fund activity in other stocks similar to Ameresco Inc (NYSE:AMRC). We will take a look at Old Second Bancorp Inc. (NASDAQ:OSBC), The Bancorp, Inc. (NASDAQ:TBBK), Telenav Inc (NASDAQ:TNAV), and Eaton Vance Senior Income Trust (NYSE:EVF). This group of stocks’ market values are closest to AMRC’s market value.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $36 million. That figure was $8 million in AMRC’s case. The Bancorp, Inc. (NASDAQ:TBBK) is the most popular stock in this table. On the other hand Eaton Vance Senior Income Trust (NYSE:EVF) is the least popular one with only 3 bullish hedge fund positions. Ameresco Inc (NYSE:AMRC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard TBBK might be a better candidate to consider taking a long position in.

Disclosure: None