Is FMC Corp (FMC) Going to Burn These Hedge Funds?

Judging by the fact that FMC Corp (NYSE:FMC) has witnessed a decline in interest from the smart money, it’s safe to say that there lies a certain “tier” of hedge funds who were dropping their positions entirely in the third quarter. Intriguingly, Steve Cohen’s Point72 Asia (Singapore) said goodbye to the largest position of the 700 funds followed by Insider Monkey, valued at close to $19.4 million in stock, and Dmitry Balyasny’s Balyasny Asset Management was right behind this move, as the fund said goodbye to about $18.9 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest dropped by 9 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to FMC Corp (NYSE:FMC). We will take a look at Liberty Broadband Corp (NASDAQ:LBRDA), Spirit Realty Capital Inc (NYSE:SRC), Companhia de Saneamento Basico (ADR) (NYSE:SBS), and Trimble Navigation Limited (NASDAQ:TRMB). This group of stocks’ market valuations are similar to FMC’s market valuation.

As you can see these stocks had an average of 19.75 hedge funds with bullish positions and the average amount invested in these stocks was $369 million. That figure was $1.01 billion in FMC’s case. Liberty Broadband Corp (NASDAQ:LBRDA) is the most popular stock in this table. On the other hand Companhia de Saneamento Basico (ADR) (NYSE:SBS) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks FMC Corp (NYSE:FMC) 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.