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Here is What Hedge Funds Think About Watts Water Technologies Inc (WTS)

Since Watts Water Technologies Inc (NYSE:WTS) has faced a falling interest from the entirety of the hedge funds we track, it’s easy to see that there were a few money managers that elected to cut their entire stakes last quarter. Intriguingly, George McCabe’s Portolan Capital Management cut the largest position of the 700 funds monitored by Insider Monkey, valued at close to $2.2 million in stock, and Peter Muller’s PDT Partners was right behind this move, as the fund dumped about $0.9 million worth of shares. These bearish behaviors are interesting, as aggregate hedge fund interest was cut by 2 funds last quarter.

Let’s now review hedge fund activity in other stocks similar to Watts Water Technologies Inc (NYSE:WTS). We will take a look at Five Below Inc (NASDAQ:FIVE), American Assets Trust, Inc (NYSE:AAT), Kemper Corporation (NYSE:KMPR), and InterDigital, Inc. (NASDAQ:IDCC). All of these stocks’ market caps are closest to Watts Water Technologies Inc (NYSE:WTS)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FIVE 12 148283 -8
AAT 7 88354 -3
KMPR 6 10389 -1
IDCC 19 294575 -5

As you can see, these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $135 million. That figure was $322 million in Watts Water Technologies Inc (NYSE:WTS)’s case. InterDigital, Inc. (NASDAQ:IDCC) is the most popular stock in this table. On the other hand, Kemper Corporation (NYSE:KMPR) is the least popular one with only 6 bullish hedge fund positions. Watts Water Technologies Inc (NYSE:WTS) 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, InterDigital, Inc. (NASDAQ:IDCC) might be a better candidate to consider a long position.

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