Hedge Funds Aren’t Crazy About NCR Corporation (NCR) Anymore

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Seeing as NCR Corporation (NYSE:NCR) has faced falling interest from the smart money, it’s safe to say that there lies a certain “tier” of hedge funds that slashed their full holdings by the end of the third quarter. It’s worth mentioning that Barry Rosenstein’s JANA Partners dumped the largest stake of the 700 funds watched by Insider Monkey, totaling about $231.9 million in call options., and Jason Karp’s Tourbillon Capital Partners was right behind this move, as the fund said goodbye to about $52.7 million worth of shares. These bearish behaviors are important to note, as aggregate hedge fund interest dropped by 2 funds by the end of the third quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as NCR Corporation (NYSE:NCR) but similarly valued. We will take a look at Molina Healthcare, Inc. (NYSE:MOH), AmeriGas Partners, L.P. (NYSE:APU), Burlington Stores Inc (NYSE:BURL), and Booz Allen Hamilton Holding Corporation (NYSE:BAH). This group of stocks’ market values matches NCR Corporation (NYSE:NCR)’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MOH 30 443900 2
APU 8 14884 1
BURL 39 771880 1
BAH 15 152198 -8

As you can see, these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $346 million. That figure was $1.02 billion in NCR Corporation (NYSE:NCR)’s case. Burlington Stores Inc (NYSE:BURL) is the most popular stock in this table. On the other hand, AmeriGas Partners, L.P. (NYSE:APU) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks, NCR Corporation (NYSE:NCR) 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.

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