Is Atlas Air Worldwide Holdings, Inc. (AAWW) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dumped their entire stakes in the stock during the third quarter. It’s worth mentioning that Israel Englander’s Millennium Management dumped the biggest investment of the 700 funds studied by Insider Monkey, valued at close to $4.9 million in stock. Peter Rathjens, Bruce Clarke and John Campbell’s fund, Arrowstreet Capital, also said goodbye to its stock, about $4.1 million worth.

Let’s also examine hedge fund activity in other stocks similar to Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW). These stocks are MBIA Inc. (NYSE:MBI), Tutor Perini Corp (NYSE:TPC), CONE Midstream Partners LP (NYSE:CNNX), and HFF, Inc. (NYSE:HF). This group of stocks’ market valuations match AAWW’s market valuation.

As you can see these stocks had an average of 11.5 hedge funds with bullish positions and the average amount invested in these stocks was $73 million. That figure was $98 million in AAWW’s case. MBIA Inc. (NYSE:MBI) is the most popular stock in this table. On the other hand CONE Midstream Partners LP (NYSE:CNNX) is the least popular one with only 3 bullish hedge fund positions. Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) 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 MBI might be a better candidate to consider taking a long position in.

Disclosure: None