Does James Flynn Think the Entry Point For Healthways, Inc. (HWAY) Has Arrived, And Should You Enter?

How have hedgies been trading Healthways, Inc. (NASDAQ:HWAY)?

According to hedge fund experts at Insider Monkey, Conan Laughlin‘s North Tide Capital had the number one position in Healthways, Inc. (NASDAQ:HWAY), worth close to $75.8 million, amounting to 5.7% of its total 13F portfolio. Coming in second is Stelliam Investment Management, led by Ross Margolies, holding a $40.7 million position; the fund has 0.9% of its 13F portfolio invested in the stock. Some other peers that hold long positions encompass Steve Cohen‘s Point72 Asset Management, Mitchell Blutt’s Consonance Capital Management, and Israel Englander’s Millennium Management.

Consequently, key hedge funds have been driving this bullishness. Pine River Capital Management, managed by Brian Taylor, established the most outsized position in Healthways, Inc. (NASDAQ:HWAY). Pine River Capital Management had $10.2 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also initiated an $876,000 position during the quarter. The following funds were also among the new Healthways investors: Matthew Tewksbury’s Stevens Capital Management, Paul Tudor Jones’ Tudor Investment Corp, and Mike Vranos’ Ellington.

The company still has a particularly high forward earnings multiple of 31.29. Despite the bullish attitude from the hedge funds (and the big second quarter slide of the shares since then), we would advise investors to let the stock slide more before making a play on the company.

Disclosure: None