Is Cna Financial Corp (CNA) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cut their entire stakes in the stock during the third quarter. Intriguingly, Clint Carlson’s Carlson Capital cut the biggest position of all the investors followed by Insider Monkey, comprising close to $11.3 million in stock. Robert Raiff’s fund, Raiff Partners, also cut its stock, about $1.6 million worth.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Cna Financial Corp (NYSE:CNA) but similarly valued. These stocks are Alleghany Corporation (NYSE:Y), The Gap Inc. (NYSE:GPS), Iron Mountain Incorporated (NYSE:IRM), and Arthur J. Gallagher & Co. (NYSE:AJG). This group of stocks’ market caps are closest to CNA’s market cap.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $224 million. That figure was $60 million in CNA’s case. The Gap Inc. (NYSE:GPS) is the most popular stock in this table. On the other hand Arthur J. Gallagher & Co. (NYSE:AJG) is the least popular one with only 12 bullish hedge fund positions. Cna Financial Corp (NYSE:CNA) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GPS might be a better candidate to consider taking a long position in.

Disclosure: None