Hedge Funds Are Dumping Wendys Co (WEN)

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that said goodbye to their entire stakes in the stock during the third quarter. Interestingly, Israel Englander’s Millennium Management said goodbye to the largest stake of all the investors followed by Insider Monkey, totaling close to $10 million in stock. George Hall’s fund, Clinton Group, also cut its stock, about $8.6 million worth of Wendys Co (NASDAQ:WEN) shares.

Let’s now review hedge fund activity in other stocks similar to Wendys Co (NASDAQ:WEN). We will take a look at The Geo Group, Inc. (NYSE:GEO), HSN, Inc. (NASDAQ:HSNI), Acadia Realty Trust (NYSE:AKR), and Belden Inc. (NYSE:BDC). All of these stocks’ market caps match WEN’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $105 million. That figure was a whooping $909 million in WEN’s case. Belden Inc. (NYSE:BDC) is the most popular stock in this table. On the other hand Acadia Realty Trust (NYSE:AKR) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Wendys Co (NASDAQ:WEN) 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