Is YRC Worldwide Inc (YRCW) Going to Burn These Hedge Funds?

Seeing as YRC Worldwide Inc (NASDAQ:YRCW) has experienced declining sentiment from hedge fund managers, we can see that there is a sect of money managers who sold off their entire stakes last quarter. Interestingly, Richard Mashaal’s RIMA Senvest Management cut the biggest stake of the 700 funds monitored by Insider Monkey, valued at close to $3.6 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dropped about $0.9 million worth of shares.

Let’s now review hedge fund activity in other stocks similar to YRC Worldwide Inc (NASDAQ:YRCW). These stocks are Blue Hills Bancorp Inc (NASDAQ:BHBK), GP Strategies Corporation (NYSE:GPX), FairPoint Communications Inc (NASDAQ:FRP), and The Rubicon Project Inc (NYSE:RUBI). This group of stocks’ market values are similar to YRCW’s market value.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $101 million. That figure was $112 million in YRCW’s case. The Rubicon Project Inc (NYSE:RUBI) is the most popular stock in this table. On the other hand GP Strategies Corporation (NYSE:GPX) is the least popular one with only 13 bullish hedge fund positions. YRC Worldwide, Inc. (NASDAQ:YRCW) 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 RUBI might be a better candidate to consider taking a long position in.

Disclosure: None