Is Qunar Cayman Islands Ltd (QUNR) Going to Burn These Hedge Funds?

Seeing as Qunar Cayman Islands Ltd (NASDAQ:QUNR) has witnessed falling interest from the aggregate hedge fund industry, it’s safe to say that there exists a select few hedge funds who sold off their entire stakes heading into Q4. Interestingly, Robert Karr’s Joho Capital dumped the largest position of the “upper crust” of funds watched by Insider Monkey, comprising close to $53.7 million in stock. Daniel Benton’s fund, Andor Capital Management, also dropped its stock, about $34.3 million worth of shares. These bearish behaviors are interesting, as aggregate hedge fund interest was cut by 5 funds heading into Q4.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Qunar Cayman Islands Ltd (NASDAQ:QUNR) but similarly valued. We will take a look at Berry Plastics Group Inc (NYSE:BERY), Autohome Inc (ADR) (NYSE:ATHM), Seaboard Corporation (NYSEAMEX:SEB), and Umpqua Holdings Corp (NASDAQ:UMPQ). This group of stocks’ market values resemble QUNR’s market value.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $462 million. That figure was $956 million in QUNR’s case. Berry Plastics Group Inc (NYSE:BERY) is leading the pack, while Seaboard Corporation (NYSEAMEX:SEB) is the least popular stock with only 7 bullish hedge fund positions. Qunar Cayman Islands Ltd (NASDAQ:QUNR) is not the most popular stock in this group, but hedge fund interest is still above average. Although this is a slightly positive signal, we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BERY might be a better candidate to consider a long position.