Smart Money Continues to Slim Down on Weight Watchers International, Inc. (WTW)

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cashed in their entire stakes in the stock during the third quarter. It’s worth mentioning that Philippe Laffont’s Coatue Management cashed in the biggest position of the “upper crust” of funds followed by Insider Monkey, valued at an estimated $9 million in stock, and Israel Englander’s Millennium Management was right behind this move, as the fund sold off about $1.6 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to Weight Watchers International, Inc. (NYSE:WTW). We will take a look at Aegion Corp – Class A (NASDAQ:AEGN), Qiwi PLC (NASDAQ:QIWI), Teekay Corporation (NYSE:TK), and EarthLink, Inc. (NASDAQ:ELNK). All of these stocks’ market caps match WTW’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AEGN 11 39465 -2
QIWI 9 74776 1
TK 12 69990 -3
ELNK 20 97904 -2

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $71 million. That figure was $45 million in WTW’s case. EarthLink, Inc. (NASDAQ:ELNK) is the most popular stock in this table. On the other hand Qiwi PLC (NASDAQ:QIWI) is the least popular one with only 9 bullish hedge fund positions. Weight Watchers International, Inc. (NYSE:WTW) 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 hedge funds are piling on. In this regard ELNK might be a better candidate to consider taking a long position in.

Disclosure: None