Hedge Funds Are Souring On Corelogic Inc (CLGX)

Seeing as Corelogic Inc (NYSE:CLGX) has witnessed bearish sentiment from the smart money, it’s easy to see that there exists a select few hedgies who were dropping their positions entirely heading into Q4. At the top of the heap, Seymour Sy Kaufman and Michael Stark’s Crosslink Capital said goodbye to the biggest stake of the “upper crust” of funds followed by Insider Monkey, totaling close to $18.8 million in stock, and Dmitry Balyasny’s Balyasny Asset Management was right behind this move, as the fund cut about $9.7 million worth of shares. These transactions are intriguing to say the least, as aggregate hedge fund interest fell by 3 funds heading into Q4.

Let’s now take a look at hedge fund activity in other stocks similar to Corelogic Inc (NYSE:CLGX). These stocks are Cabelas Inc (NYSE:CAB), Teledyne Technologies Incorporated (NYSE:TDY), Genesee & Wyoming Inc (NYSE:GWR), and Umpqua Holdings Corp (NASDAQ:UMPQ). All of these stocks’ market caps match CLGX’s market cap.

As you can see these stocks had an average of 19.75 hedge funds with bullish positions and the average amount invested in these stocks was $363 million. That figure was $387 million in CLGX’s case. Cabelas Inc (NYSE:CAB) is the most popular stock in this table. On the other hand Genesee & Wyoming Inc (NYSE:GWR) is the least popular one with only 12 bullish hedge fund positions. Corelogic Inc (NYSE:CLGX) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CAB might be a better candidate to consider a long position in.

Disclosure: None