Is Werner Enterprises, Inc. (WERN) Going to Burn These Hedge Funds?

Since Werner Enterprises, Inc. (NASDAQ:WERN) has faced bearish sentiment from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of hedgies who sold off their positions entirely heading into Q4. Intriguingly, Gregg Moskowitz’s Interval Partners dumped the biggest stake of all the hedgies watched by Insider Monkey, totaling an estimated $2.4 million in stock. Renaissance Technologies, also dumped its stock, about $1.6 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to Werner Enterprises, Inc. (NASDAQ:WERN). These stocks are Shanda Games Limited(ADR) (NASDAQ:GAME), Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE), Parkway Properties Inc (NYSE:PKY), and Media General, Inc. (NYSE:MEG). This group of stocks’ market valuations are closest to WERN’s market valuation.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $163 million. That figure was $123 million in WERN’s case. Media General, Inc. (NYSE:MEG) is the most popular stock in this table with a total of 25 funds reporting long positions. On the other hand the other three stocks had the same number of 7 bullish hedge fund positions. Werner Enterprises, Inc. (NASDAQ:WERN) 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 MEG might be a better candidate to consider a long position.