What Do Hedge Funds Think of Big Lots, Inc. (BIG)?

Judging by the fact that Big Lots, Inc. (NYSE:BIG) has experienced declining sentiment from the smart money, we can see that there was a specific group of fund managers who were dropping their entire stakes in the third quarter. Intriguingly, John Tompkins’s Tyvor Capital dumped the biggest investment of all the hedgies monitored by Insider Monkey, totaling close to $14.1 million in stock, and Glenn Russell Dubin’s Highbridge Capital Management was right behind this move, as the fund said goodbye to about $7 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest fell by 6 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 Big Lots, Inc. (NYSE:BIG) but similarly valued. These stocks are CLARCOR Inc. (NYSE:CLC), Prestige Brands Holdings, Inc. (NYSE:PBH), Snyder S Lance Inc (NASDAQ:LNCE), and ONE Gas Inc (NYSE:OGS). This group of stocks’ market values are closest to BIG’s market value.

As you can see these stocks had an average of 12.75 hedge funds with bullish positions and the average amount invested in these stocks was $125 million. That figure was $255 million in BIG’s case. CLARCOR Inc. (NYSE:CLC) is the most popular stock in this table. On the other hand Prestige Brands Holdings, Inc. (NYSE:PBH) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Big Lots, Inc. (NYSE:BIG) 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.