Since Tyco International PLC. (NYSE:TYC) has faced falling interest from hedge fund managers, we can see that there were a few money managers who were dropping their positions entirely heading into Q4. At the top of the heap, Daniel S. Och’s OZ Management sold off the largest investment of all the hedgies tracked by Insider Monkey, totaling an estimated $20.5 million in call options., and Alexander Mitchell’s Scopus Asset Management was right behind this move, as the fund dropped about $19.2 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest dropped by 4 funds heading into Q4.
Let’s also examine hedge fund activity in other stocks similar to Tyco International PLC. (NYSE:TYC). These stocks are Pearson PLC (ADR) (NYSE:PSO), Weyerhaeuser Company (NYSE:WY), Principal Financial Group Inc (NYSE:PFG), and Medivation Inc (NASDAQ:MDVN). All of these stocks’ market caps are closest to TYC’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 21.75 hedge funds with bullish positions and the average amount invested in these stocks was $600 million. That figure was $1,010 million in TYC’s case. Medivation Inc (NASDAQ:MDVN) is the most popular stock in this table. On the other hand Pearson PLC (ADR) (NYSE:PSO) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Tyco International PLC. (NYSE:TYC) 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.