Several Hedge Funds Cut Citigroup $C in Third Quarter

Citigroup (C) lost -38.47% in the third quarter, going from $41.62 a share on June 30 to just $25.61 a share on September 30, and it shows by the number of hedge fund managers that sold out of the company during the third quarter.

Who Sold Citigroup in the Third Quarter?

John Paulson’s Paulson & Co cut its stake in Citigroup during the third quarter. So, did Steve Mandel’s Lone Pine Capital, Paul Ruddock and Steve Heinz‘s Lansdowne Partners, David Tepper’s Appaloosa Management, Lee Ainslie’s Maverick Capital, Jim Chanos’ Kynikos Associates and Bruce Berkowitz’s Fairholme Capital Management.

PAULSON & CO

Deciding to Sell Citigroup

In fairness, it seems they made the right decision. Since then, even with October’s rally and the optimism that seems to have seeped into the market at large, Citigroup is still trading at just $26.83. Compared to competitors like Bank of America (BAC), Citigroup’s outlook appears even more dismal. Since the end of the third quarter, Citigroup has returned 9.41% while BAC has returned 0.16%  and Citigroup may carry a slightly higher analyst recommendation (2.2 on a 5 point scale where 1 means buy) than rival BAC (it has a mean recommendation of 2.4) but that is an average recommendation. Of 25 analysts, 3 recommend Citigroup as underperform or sell compared to BAC, which had just 1 of 32 analysts recommend underpeform and none recommend selling the stock. BAC has greater revenue ($75.36B to C’s $65.78B) in spite of having the smaller market cap  – BAC has a market cap of just $59.08B compared to Citigroup’s $78.35B. BAC also has higher 5-year growth estimates (11.75% to C’s 11.66%).

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!