Is Viad Corp (VVI) Going to Burn These Hedge Funds?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually dropped their positions entirely. Interestingly, Peter S. Park’s Park West Asset Management dropped the biggest investment of all the hedgies watched by Insider Monkey, worth about $6.2 million in stock. David Brown’s fund, Hawk Ridge Management, also dumped its stock, about $1.3 million worth.

Let’s check out hedge fund activity in other stocks similar to Viad Corp (NYSE:VVI). We will take a look at National Western Life Insurance Company (NASDAQ:NWLI), Tobira Therapeutics Inc (NASDAQ:TBRA), Workiva Inc (NYSE:WK), and Rapid7 Inc (NASDAQ:RPD). All of these stocks’ market caps match VVI’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $115 million. That figure was $128 million in VVI’s case. Tobira Therapeutics Inc (NASDAQ:TBRA) is the most popular stock in this table. On the other hand National Western Life Insurance Company (NASDAQ:NWLI) is the least popular one with only 7 bullish hedge fund positions. Viad Corp (NYSE:VVI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard TBRA might be a better candidate to consider taking a long position in.

Disclosure: None