Seeing as TransUnion (NYSE:TRU) has faced declining sentiment from the aggregate hedge fund industry, it’s easy to see that there were a few funds that decided to sell off their positions entirely by the end of the third quarter. It’s worth mentioning that Daniel S. Och’s OZ Management sold off the largest stake of the 700 funds watched by Insider Monkey, valued at close to $72.3 million in stock, and Nick Niell’s Arrowgrass Capital Partners was right behind this move, as the fund dumped about $11.2 million worth. These moves are intriguing to say the least, as total hedge fund interest fell by 10 funds by the end of the third quarter.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as TransUnion (NYSE:TRU) but similarly valued. We will take a look at TIM Participacoes SA (ADR) (NYSE:TSU), Manhattan Associates, Inc. (NASDAQ:MANH), Empire State Realty Trust Inc (NYSE:ESRT), and Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR). This group of stocks’ market values match TRU’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $176 million. That figure was $223 million in TRU’s case. Manhattan Associates, Inc. (NASDAQ:MANH) is the most popular stock in this table. On the other hand Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR) is the least popular one with only 6 bullish hedge fund positions. TransUnion (NYSE:TRU) 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 MANH might be a better candidate to consider a long position.