Is PVH Corp (PVH) Going to Burn These Hedge Funds?

Because PVH Corp (NYSE:PVH) has witnessed a decline in interest from the smart money, it’s easy to see that there were a few funds that slashed their positions entirely heading into Q4. It’s worth mentioning that John Overdeck and David Siegel’s Two Sigma Advisors dropped the biggest stake of the 700 funds monitored by Insider Monkey, comprising close to $27.5 million in stock, and Ray Dalio’s Bridgewater Associates was right behind this move, as the fund dropped about $8.3 million worth of shares. These bearish behaviors are important to note, as total hedge fund interest fell by 1 fund heading into Q4.

Let’s now take a look at hedge fund activity in other stocks similar to PVH Corp (NYSE:PVH). These stocks are Marine Harvest ASA (NYSE:MHG), Affiliated Managers Group, Inc. (NYSE:AMG), Unum Group (NYSE:UNM), and YPF SA (ADR) (NYSE:YPF). This group of stocks’ market caps match PVH’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MHG 5 15500 0
AMG 35 746567 1
UNM 16 186567 -6
YPF 19 360036 -7

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $327 million. That figure was $1.25 billion in PVH’s case. Affiliated Managers Group, Inc. (NYSE:AMG) is the most popular stock in this table. On the other hand Marine Harvest ASA (NYSE:MHG) is the least popular one with only 5 bullish hedge fund positions. PVH Corp (NYSE:PVH) 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 AMG might be a better candidate to consider a long position in.

Disclosure: None