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Hedge Funds Are Bearing With Fortress Investment Group LLC (FIG)

Because Fortress Investment Group LLC (NYSE:FIG) has experienced a decline in interest from the entirety of the hedge funds we track, logic holds that there is a sect of hedge funds that slashed their positions entirely in the third quarter. At the top of the heap, Paul Marshall and Ian Wace’s Marshall Wace LLP dropped the biggest position of the “upper crust” of funds watched by Insider Monkey, valued at close to $0.4 million in stock. Youlia Miteva’s fund, Proxima Capital Management, also said goodbye to its stock, about $0.3 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest dropped by 2 funds in the third quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Fortress Investment Group LLC (NYSE:FIG) but similarly valued. We will take a look at Acxiom Corporation (NASDAQ:ACXM), Monogram Residential Trust Inc (NYSE:MORE), WPP PLC (ADR) (NASDAQ:WPPGY), and Revlon Inc (NYSE:REV). This group of stocks’ market values match FIG’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ACXM 15 230281 0
MORE 12 22361 0
WPPGY 10 119015 1
REV 9 15659 0

As you can see these stocks had an average of 11.5 hedge funds with bullish positions and the average amount invested in these stocks was $97 million. That figure was $100 million in FIG’s case. Acxiom Corporation (NASDAQ:ACXM) is the most popular stock in this table. On the other hand Revlon Inc (NYSE:REV) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Fortress Investment Group LLC (NYSE:FIG) 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

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