Is Columbia Pipeline Partners LP (CPPL) Going to Burn These Hedge Funds?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that sold off their entire stakes in the stock during the third quarter. Intriguingly, Marc Lisker, Glenn Fuhrman and John Phelan’s MSDC Management sold off the largest position of all the investors watched by Insider Monkey, valued at an estimated $10.2 million in stock, and Richard Driehaus’s Driehaus Capital was right behind this move, as the fund said goodbye to about $1.4 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to Columbia Pipeline Partners LP (NYSE:CPPL). We will take a look at Fairmount Santrol Holdings Inc (NYSE:FMSA), Etsy Inc (NASDAQ:ETSY), Oil States International, Inc. (NYSE:OIS), and Federal-Mogul Corporation (NASDAQ:FDML). This group of stocks’ market caps match CPPL’s market cap.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $498 million. That figure was $73 million in CPPL’s case. Fairmount Santrol Holdings Inc (NYSE:FMSA) is the most popular stock in this table. On the other hand Federal-Mogul Corporation (NASDAQ:FDML) is the least popular one with only 8 bullish hedge fund positions. Columbia Pipeline Partners LP (NYSE:CPPL) 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 FMSA might be a better candidate to consider taking a long position in.

Disclosure: None