Here is What Hedge Funds Think About TravelCenters of America LLC (TA)

Due to the fact that TravelCenters of America LLC (NASDAQ:TA) has experienced a decline in interest from the smart money, logic holds that there exists a select few fund managers that slashed their positions entirely in the third quarter. At the top of the heap, Wayne Cooperman’s Cobalt Capital Management cut the biggest position of the 700 funds watched by Insider Monkey, worth close to $0.4 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dropped about $0.4 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to TravelCenters of America LLC (NASDAQ:TA). These stocks are Phoenix New Media Ltd ADR (NYSE:FENG), Golden Entertainment Inc (NASDAQ:GDEN), Seneca Foods Corp (NASDAQ:SENEA), and Territorial Bancorp Inc (NASDAQ:TBNK). This group of stocks’ market values are closest to TA’s market value.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $22 million. That figure was $29 million in TA’s case. Phoenix New Media Ltd ADR (NYSE:FENG) is the most popular stock in this table. On the other hand Territorial Bancorp Inc (NASDAQ:TBNK) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks TravelCenters of America LLC (NASDAQ:TA) 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.

Disclosure: None