Hedge Funds Are Dumping Liberty Tripadvisor Holdings Inc (LTRPA)

Seeing as Liberty Tripadvisor Holdings Inc (NASDAQ:LTRPA) has faced a decline in interest from the entirety of the hedge funds we track, we can see that there was a specific group of money managers who were dropping their positions entirely in the third quarter. Interestingly, Ryan Frick and Oliver Evans’s Dorsal Capital Management sold off the biggest stake of the “upper crust” of funds monitored by Insider Monkey, comprising close to $63.5 million in call options. Daniel S. Och’s fund, OZ Management, also cut its call options, worth about $11 million. These bearish behaviors are intriguing to say the least, as total hedge fund interest dropped by 3 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Liberty Tripadvisor Holdings Inc (NASDAQ:LTRPA). These stocks are KLX Inc (NASDAQ:KLXI), Coeur d’Alene Mines Corporation (NYSE:CDE), Itron, Inc. (NASDAQ:ITRI), and Financial Engines Inc (NASDAQ:FNGN). This group of stocks’ market values resemble LTRPA’s market value.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $302 million. That figure was $479 million in LTRPA’s case. Coeur d’Alene Mines Corporation (NYSE:CDE) is the most popular stock in this table. On the other hand Financial Engines Inc (NASDAQ:FNGN) is the least popular one with only 13 bullish hedge fund positions. Liberty Tripadvisor Holdings Inc (NASDAQ:LTRPA) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CDE might be a better candidate to consider a long position.

Disclosure: none.