Since JetBlue Airways Corporation (NASDAQ:JBLU) has faced a decline in interest from the entirety of the hedge funds we track, it’s easy to see that there were a few hedge funds who sold off their full holdings heading into Q4. Intriguingly, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital cut the largest investment of all the hedgies watched by Insider Monkey, totaling about $28 million in stock, and Robert Polak’s Anchor Bolt Capital was right behind this move, as the fund sold off about $21.5 million worth of shares. These moves are important to note, as total hedge fund interest fell by 6 funds heading into Q4.
Let’s also examine hedge fund activity in other stocks similar to JetBlue Airways Corporation (NASDAQ:JBLU). These stocks are Post Holdings Inc (NYSE:POST), Calpine Corporation (NYSE:CPN), Polaris Industries Inc. (NYSE:PII), and Carlyle Group LP (NASDAQ:CG). This group of stocks’ market caps are closest to JBLU’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 25.5 hedge funds with bullish positions and the average amount invested in these stocks was $639 million. That figure was $487 million in JBLU’s case. Post Holdings Inc (NYSE:POST) is the most popular stock in this table. On the other hand Carlyle Group LP (NASDAQ:CG) is the least popular one with only 11 bullish hedge fund positions. JetBlue Airways Corporation (NASDAQ:JBLU) 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 POST might be a better candidate to consider a long position.