Hedge Funds Are Selling Northern Oil & Gas, Inc. (NOG)

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dropped their entire stakes in the stock during the third quarter. Intriguingly, Brian Taylor’s Pine River Capital Management cut the largest stake of the “upper crust” of funds tracked by Insider Monkey, worth an estimated $3.5 million in stock. Neil Chriss’ fund, Hutchin Hill Capital, also sold off its stock, about $0.9 million worth of NOG shares.

Let’s now review hedge fund activity in other stocks similar to Northern Oil & Gas, Inc. (NYSEMKT:NOG). We will take a look at JAKKS Pacific, Inc. (NASDAQ:JAKK), VirnetX Holding Corporation (NYSEMKT:VHC), Townsquare Media Inc (NYSE:TSQ), and Global Medical REIT Inc (NYSE:GMRE). This group of stocks’ market values are closest to NOG’s market value.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $21 million. That figure was $25 million in NOG’s case. JAKKS Pacific, Inc. (NASDAQ:JAKK) is the most popular stock in this table. On the other hand VirnetX Holding Corporation (NYSEMKT:VHC) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Northern Oil & Gas, Inc. (NYSEMKT:NOG) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.