Hedge Funds Are Selling Murphy USA Inc (MUSA)

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cashed in their positions entirely. At the top of the heap, Dmitry Balyasny’s Balyasny Asset Management cashed in the largest investment of all the hedgies monitored by Insider Monkey, comprising close to $8.7 million in stock, and Solomon Kumin’s Folger Hill Asset Management was right behind this move, as the fund sold off about $3.7 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Murphy USA Inc (NYSE:MUSA) but similarly valued. We will take a look at ProAssurance Corporation (NYSE:PRA), NorthWestern Corp (NYSE:NWE), MFA Financial, Inc. (NYSE:MFA), and Brinker International, Inc. (NYSE:EAT). This group of stocks’ market caps resemble MUSA’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 $86 million. That figure was $169 million in MUSA’s case. Brinker International, Inc. (NYSE:EAT) is the most popular stock in this table. On the other hand NorthWestern Corp (NYSE:NWE) is the least popular one with only 6 bullish hedge fund positions. Murphy USA Inc (NYSE:MUSA) 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 EAT might be a better candidate to consider taking a long position in.

Disclosure: None