What Do Hedge Funds Think of Silgan Holdings Inc. (SLGN)?

Judging by the fact that Silgan Holdings Inc. (NASDAQ:SLGN) has witnessed a declination in interest from the entirety of the hedge funds we track, it’s safe to say that there is a sect of hedgies that decided to sell off their entire stakes heading into Q4. At the top of the heap, Jim Simons’s Renaissance Technologies cut the biggest investment of the 700 funds watched by Insider Monkey, totaling an estimated $1.2 million in stock. Peter Rathjens, Bruce Clarke and John Campbell’s fund, Arrowstreet Capital, also cut its stock, about $1.1 million worth. These transactions are important to note, as aggregate hedge fund interest fell by 3 funds heading into Q4.

Let’s now take a look at hedge fund activity in other stocks similar to Silgan Holdings Inc. (NASDAQ:SLGN). We will take a look at Popular Inc (NASDAQ:BPOP), Microsemi Corporation (NASDAQ:MSCC), Whiting Petroleum Corp (NYSE:WLL), and Nabors Industries Ltd. (NYSE:NBR). This group of stocks’ market caps match SLGN’s market cap.

As you can see these stocks had an average of 26.5 hedge funds with bullish positions and the average amount invested in these stocks was $447 million. That figure was $66 million in SLGN’s case. Whiting Petroleum Corp (NYSE:WLL) is the most popular stock in this table. On the other hand Microsemi Corporation (NASDAQ:MSCC) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Silgan Holdings Inc. (NASDAQ:SLGN) is even less popular than MSCC. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.