Hedge Funds Are Selling Atlas Air Worldwide Holdings, Inc. (AAWW)

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Since Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) has witnessed a fall in interest from the aggregate hedge fund industry, we can see that there was a specific group of fund managers that decided to sell off their full holdings in the third quarter. Interestingly, Ken Griffin’s Citadel Investment Group cut the biggest stake of the 700 funds monitored by Insider Monkey, totaling close to $9.8 million in stock. Chao Ku’s fund, Nine Chapters Capital Management, also cut its stock, about $2.8 million worth. These transactions are important to note, as total hedge fund interest dropped by 4 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW). We will take a look at HudBay Minerals Inc Ord Shs (NYSE:HBM), StoneMor Partners L.P. (NYSE:STON), Finish Line Inc (NASDAQ:FINL), and Lands’ End, Inc. (NASDAQ:LE). This group of stocks’ market caps resemble AAWW’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HBM 7 3215 -4
STON 5 4517 0
FINL 25 149288 2
LE 12 287908 -4

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $111 million. That figure was $94 million in AAWW’s case. Finish Line Inc (NASDAQ:FINL) is the most popular stock in this table, while StoneMor Partners L.P. (NYSE:STON) is the least popular one with only 5 bullish hedge fund positions. Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) 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 FINL might be a better candidate to consider a long position.

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