This Is How Top Investors Are Trading Financial Engines Inc (FNGN)

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Judging by the fact that Financial Engines Inc (NASDAQ:FNGN) has witnessed a declination in interest from hedge fund managers, it’s easy to see that there was a specific group of hedgies that slashed their entire stakes last quarter. Interestingly, D. E. Shaw’s D E Shaw said goodbye to the biggest stake of all the hedgies watched by Insider Monkey, worth close to $0.6 million in stock. Matthew Tewksbury’s fund, Stevens Capital Management, also said goodbye to its stock, about $0.4 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest was cut by 1 funds last quarter.

Let’s go over hedge fund activity in other stocks similar to Financial Engines Inc (NASDAQ:FNGN). We will take a look at Box Inc (NYSE:BOX), Etsy Inc (NASDAQ:ETSY), Wayfair Inc (NYSE:W), and United States Steel Corporation (NYSE:X). This group of stocks’ market caps match FNGN’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BOX 7 51597 -2
ETSY 3 138220 -6
W 28 356539 15
X 25 97151 -4

As you can see these stocks had an average of 15.75 hedge funds with bullish positions and the average amount invested in these stocks was $161 million. That figure was $30 million in FNGN’s case. Wayfair Inc (NYSE:W) is the most popular stock in this table with 28 funds reporting stakes as of September 30. On the other hand Etsy Inc (NASDAQ:ETSY) is the least popular one with only 3 bullish hedge fund positions. Financial Engines Inc (NASDAQ:FNGN) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Wayfair might be a better candidate to consider a long position.

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