Is Comerica Incorporated (CMA) Going to Burn These Hedge Funds?

Since Comerica Incorporated (NYSE:CMA) has witnessed bearish sentiment from hedge fund managers, we can see that there exists a select few fund managers that decided to sell off their entire stakes heading into Q4. Intriguingly, Daniel S. Och’s OZ Management cut the biggest investment of all the hedgies tracked by Insider Monkey, totaling close to $65.8 million in stock, and Louis Bacon’s Moore Global Investments was right behind this move, as the fund dumped about $21.6 million worth. These moves are important to note, as total hedge fund interest fell by 1 funds heading into Q4.

Let’s go over hedge fund activity in other stocks similar to Comerica Incorporated (NYSE:CMA). These stocks are Splunk Inc (NASDAQ:SPLK), Alaska Air Group, Inc. (NYSE:ALK), Open Text Corporation (USA) (NASDAQ:OTEX), and Western Gas Partners, LP (NYSE:WES). All of these stocks’ market caps match CMA’s market cap.

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $454 million. That figure was $852 million in CMA’s case. Alaska Air Group, Inc. (NYSE:ALK) is the most popular stock in this table. On the other hand Western Gas Partners, LP (NYSE:WES) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Comerica Incorporated (NYSE:CMA) 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.