In this article, we discuss the 5 stocks Michael Burry is selling. If you want to read our detailed analysis of Burry’s history, and hedge fund performance, go directly to the 10 Stocks Michael Burry Is Selling.
5. HollyFrontier Corporation (NYSE: HFC)
Number of Hedge Fund Holders: 20
HollyFrontier Corporation (NYSE: HFC) is a Texas-based petroleum refining company. The company’s shares have returned over 19% to investors in the past twelve months. It ranked fifth on our list of 10 stocks Michael Burry is selling. Burry sold his entire stake in the company at the beginning of this year. However, the firm posted mixed earnings results for the first quarter of 2021 on May 5, reporting earnings per share of -$0.53, missing market estimates by $0.07. The revenue for the first three months of 2021 was $3.5 billion, up close to 3% year-on-year and beating market predictions by $680 million.
On May 20, investment advisory Goldman Sachs downgraded HollyFrontier Corporation (NYSE: HFC) stock to Sell from Neutral with a price target of $34 after on the back of uncertainty around capital allocation and the suspension of dividend payouts as part of a funding strategy.
Out of the hedge funds being tracked by Insider Monkey, Boston-based investment firm Arrowstreet Capital is a leading shareholder in HollyFrontier Corporation (NYSE: HFC) with 1.6 million shares worth more than $57 million.