John Clark’s Southpoint Capital is Selling These 5 Stocks

In this article, we will be looking at the 5 stocks John Clark’s Southpoint is currently selling. If you want to see our comprehensive analysis of Clark’s history, investment philosophy and hedge fund performance, go directly to John Clark’s Southpoint Capital is Selling Caterpillar and 9 Other Stocks.

John Clark’s fund sold its entire stakes in the following companies in the third quarter.

5. Clearway Energy, Inc. (NYSE:CWEN)

Total Number of Hedge Fund Holders: 17

Number 5 on the list of stocks sold by John Clark’s Southpoint Capital is Clearway Energy, Inc. (NYSE: CWEN), a company that deals in renewable energy generation facilities in the United States. For the third quarter of 2021, the company posted an EPS of $0.18, missing consensus estimates by -$0.80. Revenue for the quarter stood at $351.00 million, falling below expectations by $88.19 million.

On November 5, Oppenheimer analyst Noah Kaye upgraded the company stock from ‘Perform’ to ‘Outperform’, setting a $44 price target. The analyst noted that Clearway’s “material strategic progress” supports its objectives for dividend growth and long-term portfolio targets.