Hedge Fund Sentiment For Lowe’s Companies, Inc. (LOW) Is Stagnating

Seeing as Lowe’s Companies, Inc. (NYSE:LOW) has witnessed stagnant sentiment from the aggregate hedge fund industry, we can see that there lies a certain “tier” of funds that also slashed their positions entirely last quarter. It’s worth mentioning that Stephen Mandel’s Lone Pine Capital sold off the largest position of the “upper crust” of funds watched by Insider Monkey, worth about $472.4 million in stock. Glenn Russell Dubin’s fund, Highbridge Capital Management, also dumped its stock, about $34.1 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now review hedge fund activity in other stocks similar to Lowe’s Companies, Inc. (NYSE:LOW). These stocks are Costco Wholesale Corporation (NASDAQ:COST), Priceline.com Inc (NASDAQ:PCLN), Barclays PLC (ADR) (NYSE:BCS), and Rio Tinto plc (ADR) (NYSE:RIO). This group of stocks’ market caps are similar to LOW’s market cap.

As you can see these stocks had an average of 39.5 hedge funds with bullish positions and the average amount invested in these stocks was $2.33 billion. That figure was $3.35 billion in LOW’s case. Priceline.com Inc (NASDAQ:PCLN) is the most popular stock in this table. On the other hand Barclays PLC (ADR) (NYSE:BCS) is the least popular one with only 15 bullish hedge fund positions. Lowe’s Companies, Inc. (NYSE:LOW) is not the most popular stock in this group but hedge fund interest is still above average, as is the amount of money invested in it. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PCLN might be a better candidate to consider a long position in.