What Do Hedge Funds Think of Scientific Games Corp (SGMS)?

It’s worth mentioning that Lee Munder’s Lee Munder Capital Group cut the biggest position of the 700 funds followed by Insider Monkey, worth an estimated $9.8 million in stock, and Buckley Ratchford’s Wingspan Investment Management was right behind this move, as the fund sold off about $9.3 million worth. These transactions are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Scientific Games Corp (NASDAQ:SGMS) but similarly valued. These stocks are Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP), QLogic Corporation (NASDAQ:QLGC), MTS Systems Corporation (NASDAQ:MTSC), and Gener8 Maritime Inc (NYSE:GNRT). All of these stocks’ market caps match SGMS’s market cap.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $196 million. That figure was $411 million in SGMS’s case. QLogic Corporation (NASDAQ:QLGC) is the most popular stock in this table. On the other hand MTS Systems Corporation (NASDAQ:MTSC) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Scientific Games Corp (NASDAQ:SGMS) 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.