Here Is What Hedge Funds Think About Antero Resources Corp (AR)

Due to the fact that Antero Resources Corp (NYSE:AR) has faced a decline in interest from the aggregate hedge fund industry, logic holds that there were a few money managers who sold off their entire stakes by the end of the third quarter. Intriguingly, Christopher James’s Partner Fund Management said goodbye to the biggest stake of the 700 funds monitored by Insider Monkey, valued at close to $45.6 million in stock. Stuart J. Zimmer’s fund, Zimmer Partners, also dumped its stock, about $26 million worth.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Antero Resources Corp (NYSE:AR) but similarly valued. We will take a look at Comerica Incorporated (NYSE:CMA), Splunk Inc (NASDAQ:SPLK), Alaska Air Group, Inc. (NYSE:ALK), and Open Text Corporation (USA) (NASDAQ:OTEX). All of these stocks’ market caps match AR’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CMA 41 851631 -1
SPLK 32 595827 0
ALK 36 997368 -6
OTEX 20 186078 1

As you can see these stocks had an average of 32 hedge funds with bullish positions at the end of September and the average amount invested in these stocks was $658 million. That figure was $1.58 billion in AR’s case. Comerica Incorporated (NYSE:CMA) is the most popular stock in this table, while Open Text Corporation (USA) (NASDAQ:OTEX) is the least popular one with only 20 investors long the stock. Antero Resources Corp (NYSE:AR) 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 Comerica Incorporated (NYSE:CMA) might be a better candidate to consider a long position.