Why Are These Five Stocks Tanking Today?

It hasn’t been a good day for Republic Airways Holdings Inc. (NASDAQ:RJET) investors, as the stock is down by more than 13% after the analysts at Deutsche Bank downgraded the firm to ‘Hold’ from ‘Buy’ and lowered the price target to $4 from $8. The analysts cited the 50% drop in its EPS estimate for next year. The hedge fund sentiment towards Republic Airways Holdings Inc. (NASDAQ:RJET) has been steady, as the number of funds long the stock remained unchanged at 18 at the end of the third quarter. Among the Republic Airways Holdings Inc. (NASDAQ:RJET) bulls is Ross Margolies‘ Stelliam Investment Management, owning a stake of 5.40 million shares.

Along with this bearish movement, shares of Whiting Petroleum Corp (NYSE:WLL) are down today by almost 6%, eliminating the gains recorded in the previous couple of sessions. Investors are selling after analysts at Evercore ISI downgraded the stock to ‘Hold’ from ‘Buy’ and analysts at Citigroup lowered their price target to $20 from $25. Out of the 730 funds that we track, 42 funds reported holding shares of the company as of the end of September, amassing 24.6% of the float. John Paulson’s Paulson & Co has the most valuable position in Whiting Petroleum Corp, worth $146.6 million.

Last on our list is Joy Global Inc. (NYSE:JOY), whose shares are off by 7%. The stock has been dragged down by the overall fall in the Chinese stock on the back of a possible economic slowdown. Yesterday, analysts at UBS downgraded the firm to ‘Sell’ from ‘Neutral’ and lowered their price target to $8 from $9. UBS’ downgrade comes on the back of weaker earnings due to commodity volatility and after Joy Global shares slid by more than 70% during the past year. The smart money seems to be fond Joy Global Inc. (NYSE:JOY), with Robert Rodriguez and Steven Romick‘s First Pacific Advisors LLC owning a stake of 3.94 million shares. Among the funds we follow, 28 reported long positions in Joy Global Inc. (NYSE:JOY) as of the end of September, up by nine funds from a quarter earlier. Those funds collectively amassed around 17.4% of Joy Global’s float.

Disclosure: none