Here’s What This Metric Says About Brunswick Corporation (BC)

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Since Brunswick Corporation (NYSE:BC) has experienced a decline in interest from the entirety of the hedge funds we track, it’s easy to see that there was a specific group of hedgies who were dropping their positions entirely last quarter. Interestingly, Brian Taylor’s Pine River Capital Management sold off the largest position of the 700 funds watched by Insider Monkey, totaling about $5.4 million in stock. Brad Dunkley and Blair Levinsky’s fund, Waratah Capital Advisors, also cut its stock, valued at about $3.6 million.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Brunswick Corporation (NYSE:BC) but similarly valued. These stocks are Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL), Olin Corporation (NYSE:OLN), IDACORP Inc (NYSE:IDA), and Advanced Micro Devices, Inc. (NYSE:AMD). This group of stocks’ market values resemble BC’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CBRL 22 127400 7
OLN 18 989434 -10
IDA 6 96192 -4
AMD 47 644564 22

As you can see these stocks had an average of 23 funds with bullish positions and the average amount invested in these stocks was $464 million, compared to $501 million in BC’s case. Advanced Micro Devices, Inc. (NYSE:AMD) is the most popular stock in this table. On the other hand IDACORP Inc (NYSE:IDA) is the least popular one with only six funds holding shares. Brunswick Corporation (NYSE:BC) 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 Advanced Micro Devices, Inc. (NYSE:AMD) might be a better candidate to consider a long position.

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Disclosure: None




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