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Is United Continental Holdings Inc (UAL) Going to Burn These Hedge Funds?

Since United Continental Holdings Inc (NYSE:UAL) has witnessed a declination in interest from the entirety of the hedge funds we track, it’s easy to see that there exists a select few money managers that slashed their full holdings last quarter. It’s worth mentioning that James Dinan’s York Capital Management sold off the largest stake of the 700 funds watched by Insider Monkey, valued at an estimated $177.7 million in stock, and Doug Silverman and Alexander Klabin’s Senator Investment Group was right behind this move, as the fund cut about $92.8 million worth. These moves are intriguing to say the least, as total hedge fund interest was cut by 2 funds last quarter.

Let’s check out hedge fund activity in other stocks similar to United Continental Holdings Inc (NYSE:UAL). These stocks are Brown-Forman Corporation (NYSE:BF), Incyte Corporation (NASDAQ:INCY), Sirius XM Radio Inc (NASDAQ:SIRI), and KKR & Co. L.P. (NYSE:KKR). This group of stocks’ market valuations are closest to UAL’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BF 23 621353 3
INCY 40 3233575 5
SIRI 35 1398167 3
KKR 30 581377 0

As you can see these stocks had an average of 32 hedge funds with bullish positions and the average amount invested in these stocks was $1459 million. That figure was $2974 million in UAL’s case. Incyte Corporation (NASDAQ:INCY) is the most popular stock in this table with a total of 40 funds disclosing long positions. On the other hand Brown-Forman Corporation (NYSE:BF) is the least popular one with only 23 bullish hedge fund positions. Compared to these stocks United Continental Holdings Inc (NYSE:UAL) 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.

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