Hedge Funds Are Selling Outfront Media Inc (OUT)

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cut their entire stakes in the stock during the third quarter. At the top of the heap, Paul Marshall and Ian Wace’s Marshall Wace LLP cut the biggest investment of the “upper crust” of funds followed by Insider Monkey, valued at close to $4.6 million in stock, and Michael Platt and William Reeves’ BlueCrest Capital Mgmt. was right behind this move, as the fund dropped about $1.6 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Outfront Media Inc (NYSE:OUT) but similarly valued. These stocks are Rayonier Inc. (NYSE:RYN), Monolithic Power Systems, Inc. (NASDAQ:MPWR), World Fuel Services Corporation (NYSE:INT), and Deluxe Corporation (NYSE:DLX). All of these stocks’ market caps match OUT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
RYN 15 346535 5
MPWR 19 185808 1
INT 21 113629 -3
DLX 17 87231 -3

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $183 million. That figure was $230 million in OUT’s case. World Fuel Services Corporation (NYSE:INT) is the most popular stock in this table. On the other hand Rayonier Inc. (NYSE:RYN) is the least popular one with only 15 bullish hedge fund positions. Outfront Media Inc (NYSE:OUT) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard INT might be a better candidate to consider taking a long position in.

Disclosure: None