Are Hedge Funds Losing Interest In Golar LNG Limited (USA) (GLNG)?

Due to the fact that Golar LNG Limited (USA) (NASDAQ:GLNG) has faced declining sentiment from hedge fund managers, it’s safe to say that there lies a certain “tier” of hedge funds that elected to cut their full holdings in the third quarter. Interestingly, Don Morgan’s Brigade Capital cut the biggest position of all the hedgies monitored by Insider Monkey, totaling close to $15.6 million in stock. Carson Yost’s fund, Yost Capital Management, also cut its stock, about $12.6 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest dropped by 5 funds in the third quarter.

Let’s check out hedge fund activity in other stocks similar to Golar LNG Limited (USA) (NASDAQ:GLNG). We will take a look at The Wendy’s Company (NASDAQ:WEN), Avolon Holdings Ltd (NYSE:AVOL), UMB Financial Corporation (NASDAQ:UMBF), and PIMCO Dynamic Credit Income Fund (NYSE:PCI). All of these stocks’ market caps are similar to GLNG’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $235 million, versus $682 million in GLNG’s case. The Wendy’s Company (NASDAQ:WEN) is the most popular stock in this table, while PIMCO Dynamic Credit Income Fund (NYSE:PCI) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Golar LNG Limited (USA) (NASDAQ:GLNG) is ,much more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.