Do Hedge Funds Love Unisys Corporation (UIS)?

Seeing as Unisys Corporation (NYSE:UIS) has witnessed a declination in interest from the entirety of the hedge funds we track, we can see that there were a few hedgies that decided to sell off their entire stakes last quarter. It’s worth mentioning that Anand Parekh’s Alyeska Investment Group said goodbye to the biggest position of the 700 funds watched by Insider Monkey, comprising an estimated $3.8 million in stock. Ira Unschuld’s fund, Brant Point Investment Management, also dropped its stock, about $1.6 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 3 funds last quarter.

Let’s go over hedge fund activity in other stocks similar to Unisys Corporation (NYSE:UIS). These stocks are Monmouth R.E. Inv. Corp. (NYSE:MNR), Matrix Service Co (NASDAQ:MTRX), Heritage Insurance Holdings Inc (NYSE:HRTG), and Gran Tierra Energy Inc. (NYSEAMEX:GTE). All of these stocks’ market caps are similar to UIS’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $77 million. That figure was $96 million in UIS’s case. Gran Tierra Energy Inc. (NYSEAMEX:GTE) is the most popular stock in this table. On the other hand Monmouth R.E. Inv. Corp. (NYSE:MNR) is the least popular one with only 8 bullish hedge fund positions. Unisys Corporation (NYSE:UIS) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GTE might be a better candidate to consider a long position.