Is KeyCorp (KEY) A Good Stock For Your Portfolio?

Because KeyCorp (NYSE:KEY) has faced bearish sentiment from the entirety of the hedge funds we track, it’s easy to see that there was a specific group of funds that decided to sell off their entire stakes during the third quarter. Interestingly, John Khoury’s Long Pond Capital said goodbye to the largest investment of all the hedgies watched by Insider Monkey, comprising an estimated $57.6 million in stock. Robert Pohly’s fund, Samlyn Capital, also said goodbye to its stock, about $42.8 million worth.

Let’s go over hedge fund activity in other stocks similar to KeyCorp (NYSE:KEY). We will take a look at Interpublic Group of Companies Inc (NYSE:IPG), Lincoln National Corporation (NYSE:LNC), Wynn Resorts, Limited (NASDAQ:WYNN), and Duke Realty Corp (NYSE:DRE). This group of stocks’ market valuations resemble KEY’s market valuation.

As you can see these stocks had an average of 26 investors with long positions and the average amount invested in these stocks was $1.06 billion. That figure was $728 million in KEY’s case. Wynn Resorts, Limited (NASDAQ:WYNN) is the most popular stock in this table with 38 funds holding shares. On the other hand Duke Realty Corp (NYSE:DRE) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks KeyCorp (NYSE:KEY) 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.

Disclosure: None