Hedge Funds Are Dumping Quintiles IMS Holdings Inc (NYSE:Q)

Judging by the fact that Quintiles IMS Holdings Inc (NYSE:Q) has sustained bearish sentiment from the aggregate hedge fund industry, it’s easy to see that there lies a certain “tier” of fund managers who sold off their entire stakes in the third quarter. Interestingly, Andrew Immerman and Jeremy Schiffman’s Palestra Capital Management said goodbye to the largest stake of all the hedgies tracked by Insider Monkey, comprising an estimated $54.2 million in stock, and Glenn Russell Dubin’s Highbridge Capital Management was right behind this move, as the fund dumped about $27.2 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to Quintiles IMS Holdings Inc (NYSE:Q). These stocks are Duke Realty Corp (NYSE:DRE), Huaneng Power International Inc (ADR) (NYSE:HNP), Hanesbrands Inc. (NYSE:HBI), and Liberty Interactive Corp (NASDAQ:QVCA). This group of stocks’ market caps are closest to Q’s market cap.

As you can see these stocks had an average of 29 hedge funds with bullish positions and the average amount invested in these stocks was $1.04 billion. That figure was $1.25 billion in Q’s case. Liberty Interactive Corp (NASDAQ:QVCA) is the most popular stock in this table. On the other hand Huaneng Power International Inc (ADR) (NYSE:HNP) is the least popular one with only 1 bullish hedge fund positions. Quintiles IMS Holdings Inc (NYSE:Q) 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 QVCA might be a better candidate to consider taking a long position in.

Disclosure: none.