Hedge Funds Are Selling WP Glimcher Inc (WPG)

Seeing as WP Glimcher Inc (NYSE:WPG) has faced a declination in interest from the entirety of the hedge funds we track, logic holds that there was a specific group of hedgies that decided to sell off their full holdings by the end of the third quarter. At the top of the heap, Point72 Asset Management dropped the biggest position of the 700 funds monitored by Insider Monkey, worth about $5.8 million in stock. Michael Platt and William Reeves’ fund, BlueCrest Capital Mgmt., also dumped its stock, about $5.8 million worth of shares. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest was cut by 3 funds by the end of the third quarter.

Let’s also examine hedge fund activity in other stocks similar to WP Glimcher Inc (NYSE:WPG). We will take a look at National Health Investors Inc (NYSE:NHI), Kosmos Energy Ltd (NYSE:KOS), and Logitech International SA (USA) (NASDAQ:LOGI). This group of stocks’ market caps is closest to WP Glimcher Inc (NYSE:WPG)’s market cap.

As you can see, these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $63 million. That figure was $99 million in WP Glimcher Inc (NYSE:WPG)’s case. National Health Investors Inc (NYSE:NHI) is the most popular stock in this table. On the other hand, Logitech International SA (USA) (NASDAQ:LOGI) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks, WP Glimcher Inc (NYSE:WPG) 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.