Should You Be Wary of Fidelity National Financial Inc (FNFV)?

Since Fidelity National Financial Inc (NYSE:FNFV) has faced a decline in interest from hedge fund managers, it’s safe to say that there were a few hedgies who sold off their full holdings last quarter. Intriguingly, John Khoury’s Long Pond Capital dropped the largest stake of the 700 funds tracked by Insider Monkey, valued at close to $7.7 million in stock, and Israel Englander’s Millennium Management was right behind this move, as the fund said goodbye to about $0.5 million worth of shares. These bearish behaviors are intriguing to say the least, as total hedge fund interest fell by 1 fund last quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Fidelity National Financial Inc (NYSE:FNFV) but similarly valued. We will take a look at Portland General Electric Company (NYSE:POR), Gulfport Energy Corporation (NASDAQ:GPOR), Charles River Laboratories (NYSE:CRL), and AGCO Corporation (NYSE:AGCO). All of these stocks’ market caps match FNFV’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
POR 13 88742 -2
GPOR 34 816426 -6
CRL 27 594201 0
AGCO 26 577012 3

As you can see these stocks had an average of 25 hedge funds with bullish positions and the average amount invested in these stocks was $519 million. That figure was just $206 million in FNFV’s case. Gulfport Energy Corporation (NASDAQ:GPOR) is the most popular stock in this table. On the other hand Portland General Electric Company (NYSE:POR) is the least popular one with only 13 bullish hedge fund positions. Fidelity National Financial Inc (NYSE:FNFV) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that a lot of hedge funds own. In this regard GPOR might be a better candidate to consider taking a long position in.

Disclosure: None