Zoetis Inc (ZTS) Tumbles After Acquisition Rumors Prove To Be Unfounded

How have hedgies been trading Zoetis Inc (NYSE:ZTS)?

When looking at the hedgies followed by Insider Monkey, Pershing Square, managed by Bill Ackman, holds the largest position in Zoetis Inc (NYSE:ZTS). Pershing Square has a $1.94 billion position in the stock, comprising 12.9% of its 13F portfolio. The second-most bullish hedge fund manager is York Capital Management, led by billionaire James Dinan, holding a $207.3 million position; 1.4% of its 13F portfolio is allocated to the company. Some other peers that hold long positions consist of Scott Ferguson’s Sachem Head Capital, Paul Marshall and Ian Wace’s Marshall Wace LLP, and George Soros’ Soros Fund Management.

As industrywide interest jumped, specific money managers have jumped into Zoetis Inc (NYSE:ZTS) headfirst. Alyeska Investment Group, managed by Anand Parekh, established the largest new position in Zoetis Inc (NYSE:ZTS) during the quarter. Alyeska Investment Group had $13 million invested in the company at the end of the quarter. Sander Gerber’s Hudson Bay Capital Management also initiated an $11.7 million position during the quarter. The other funds with brand new ZTS positions are John Segrich and Michael Molnar‘s Lorem Ipsum Management, Douglas Hirsch’s Seneca Capital, and Gordy Holterman and Derek Dunn’s Overland Advisors.

Overall hedge fund sentiment is sending a buy signal for Zoetis shares, and with those shares down by 3% last week as an overreaction swing down against the acquisition rumors proving false, we believe there’s a nice little window at this time to grab shares.

Disclosure: None