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. Intriguingly, Sander Gerber’s Hudson Bay Capital Management cut the biggest investment of the 700 funds monitored by Insider Monkey, totaling about $1.6 million in stock, and Matthew Halbower’s Pentwater Capital Management was right behind this move, as the fund cut about $1.3 million worth of shares.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Ferro Corporation (NYSE:FOE) but similarly valued. We will take a look at Summit Hotel Properties Inc (NYSE:INN), TTM Technologies, Inc. (NASDAQ:TTMI), Gentherm Inc (NASDAQ:THRM), and Tree.com Inc (NASDAQ:TREE). All of these stocks’ market caps are closest to FOE’s market cap.
|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 15 funds with bullish positions and the average amount invested in these stocks was $63 million, which is lower than the $238 million in FOE’s case. TTM Technologies, Inc. (NASDAQ:TTMI) is the most popular stock in this table. On the other hand Summit Hotel Properties Inc (NYSE:INN) is the least popular one with only nine bullish hedge fund positions. Compared to these stocks Ferro Corporation (NYSE:FOE) 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.