Ford Motor Company (F) Routs Expectations On Back Of Record North American Profit, Investors Remain Cautious

How have hedgies been trading Ford Motor Company (NYSE:F)?

Of the funds tracked by Insider Monkey, Pzena Investment Management, steered by Richard S. Pzena, holds the biggest position in Ford Motor Company (NYSE:F), owning 17.64 million shares for a $284.7 million position in the stock, comprising 1.6% of its 13F portfolio. On Pzena Investment Management’s heels is Capital Growth Management, led by Ken Heebner, holding a $94.1 million position made up of 5.83 million shares; the fund has 2.6% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include Phill Gross and Robert Atchinson’s Adage Capital Management, David Harding’s Winton Capital Management, and Gordy Holterman and Derek Dunn’s Overland Advisors.

Since Ford Motor Company (NYSE:F) had a decline in interest from the hedge fund industry, there was a certain group of funds that slashed their positions entirely heading into the second quarter. Kevin Michael Ulrich and Anthony Davis’ Anchorage Advisors dumped the largest investment of all the hedgies watched by Insider Monkey, made up of call options underlying 5.0 million shares, worth about $77.5 million. James Dinan of York Capital Management was right behind this move, as the fund sold off its call options underlying 4.98 million shares, worth about $77.22 million.

While hedge funds were bearish heading into the second quarter (and rightfully so), we’re now putting more stock in the recent analyst upgrade and insider buying on weakness, while we wait to see the latest hedge fund sentiment on the stock in the next weeks. Therefore, we continue to believe Ford is a good stock to buy at the moment.

Disclosure: None