Do Hedge Funds Love Tidewater Inc. (TDW)?

Since Tidewater Inc. (NYSE:TDW) has sustained falling interest from the smart money, it’s easy to see that there was a specific group of hedge funds who were dropping their entire stakes by the end of the third quarter. It’s worth mentioning that Israel Englander’s Millennium Management cashed in the biggest position of the 700 funds monitored by Insider Monkey, valued at close to $3 million in stock. D. E. Shaw’s fund, D E Shaw, also said goodbye to its stock, about $0.5 million worth of TDW shares.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Tidewater Inc. (NYSE:TDW) but similarly valued. These stocks are Lifevantage Corporation (NASDAQ:LFVN), Noodles & Co (NASDAQ:NDLS), Navios Maritime Holdings Inc. (NYSE:NM), and Eagle Bulk Shipping Inc. (NASDAQ:EGLE). This group of stocks’ market caps match TDW’s market cap.

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $9 million. That figure was $10 million in TDW’s case. Lifevantage Corporation (NASDAQ:LFVN) is the most popular stock in this table. On the other hand Eagle Bulk Shipping Inc. (NASDAQ:EGLE) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Tidewater Inc. (NYSE:TDW) is 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.

Disclosure: none.