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|
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.