What do Hedge Funds Think of Aegean Marine Petroleum Network Inc. (ANW)?

Seeing as Aegean Marine Petroleum Network Inc. (NYSE:ANW) has experienced declining sentiment from the smart money, we can see that there were a few hedge funds that decided to sell off their full holdings in the third quarter. At the top of the heap, Robert B. Gillam’s McKinley Capital Management dropped the largest investment of the “upper crust” of funds monitored by Insider Monkey, totaling close to $3.7 million in stock. Andy Redleaf’s fund, Whitebox Advisors, also said goodbye to its stock, about $1.9 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest fell by 5 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Aegean Marine Petroleum Network Inc. (NYSE:ANW) but similarly valued. We will take a look at Arbutus Biopharma Corp (NASDAQ:ABUS), NACCO Industries, Inc. (NYSE:NC), Egalet Corp (NASDAQ:EGLT), and Peapack-Gladstone Financial Corp (NASDAQ:PGC). This group of stocks’ market valuations resemble ANW’s market valuation.

As you can see these stocks had an average of 8.25 hedge funds with bullish positions and the average amount invested in these stocks was $60 million. That figure was $86 million in ANW’s case. Arbutus Biopharma Corp (NASDAQ:ABUS) is the most popular stock in this table. On the other hand NACCO Industries, Inc. (NYSE:NC) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Aegean Marine Petroleum Network Inc. (NYSE:ANW) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio despite the slight drop in the total number of elite funds long the stock.