Is Travelport Worldwide Ltd (TVPT) A Good Stock To Buy According To Hedge Funds?

Because Travelport Worldwide Ltd (NYSE:TVPT) has faced bearish sentiment from the smart money, it’s easy to see that there lies a certain “tier” of fund managers who were dropping their entire stakes in the third quarter. Intriguingly, John M. Angelo and Michael L. Gordon’s Angelo Gordon & Co dropped the biggest position of the 700 funds monitored by Insider Monkey, worth an estimated $103 million in stock, and Wayne Cooperman’s Cobalt Capital Management was right behind this move, as the fund cut about $5.6 million worth of TVPT shares. These transactions are important to note, as total hedge fund interest fell by 2 funds in the third quarter.

Let’s check out hedge fund activity in other stocks similar to Travelport Worldwide Ltd (NYSE:TVPT). These stocks are CBL & Associates Properties, Inc. (NYSE:CBL), Aaron’s, Inc. (NYSE:AAN), Agios Pharmaceuticals Inc (NASDAQ:AGIO), and FIRSTSERVICE CORPORATION (TSE:FSV). All of these stocks’ market caps are similar to TVPT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CBL 11 30247 -7
AAN 25 288153 0
AGIO 19 219286 8
FSV 10 111934 1

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $162 million. That figure was $466 million in TVPT’s case. Aaron’s, Inc. (NYSE:AAN) is the most popular stock in this table. On the other hand FIRSTSERVICE CORPORATION (TSE:FSV) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Travelport Worldwide Ltd (NYSE:TVPT) 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.

Disclosure: none.