According to Insider Monkey’s database, Conan Laughlin’s North Tide Capital holds the number one position in Healthways, Inc. (NASDAQ:HWAY) with 3.85 million shares worth close to $75.8 million, which accounts for 5.7% of its total 13F portfolio. Following North Tide Capital is Stelliam Investment Management, managed by Ross Margolies with 2 million shares valued at $40.7 million and accounting for 0.9% of its 13F portfolio. Other hedgies that are bullish consist of Steve Cohen’s Point72 Asset Management, Mitchell Blutt’s Consonance Capital Management, and Israel Englander‘s Millennium Management.
Many hedge fund managers have initiated their position in the stock. Leading the way is Pine River Capital Management, managed by Brian Taylor, which bought 518,765 shares worth $10.2 million in the first quarter. Following Brian Taylor is Peter Muller’s PDT Partners which initiated its position in the stock with the purchase of 44,467 shares worth around $0.9 million during the first quarter. Other hedge funds which had initiated their position in the stock include Matthew Tewksbury’s Stevens Capital Management, Paul Tudor Jones‘ Tudor Investment Corp, and Mike Vranos’ Ellington.
Hedge funds placed their bets on Healthways, Inc. (NASDAQ:HWAY) stock, but they were wrong on this one, as the stock plunged following a clearly unexpected guidance cut for 2015 by the company. Hedge fund sentiment is a good indicator on average, but there is no indicator that can consistently predict the direction of stocks. This is a case where as of right now, hedge funds got it wrong.