Swift Transportation Co (SWFT): Are Hedge Funds Right About This Stock?

Because Swift Transportation Co (NYSE:SWFT) has witnessed no change in sentiment from the aggregate hedge fund industry, we look at a sect of funds who sold off their full holdings by the end of the third quarter. Interestingly, Glenn J. Krevlin’s Glenhill Advisors said goodbye to the largest investment of the “upper crust” of funds watched by Insider Monkey, comprising about $32.4 million in stock. Larry Foley and Paul Farrell’s fund, Bronson Point Partners, also dumped its holding, about $4.6 million worth of SWFT shares. These transactions are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s also examine hedge fund activity in other stocks similar to Swift Transportation Co (NYSE:SWFT). These stocks are Press Ganey Holdings Inc (NYSE:PGND), Drew Industries, Inc. (NYSE:DW), Joy Global Inc. (NYSE:JOY), and WP Glimcher Inc (NYSE:WPG). This group of stocks’ market caps resemble SWFT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
PGND 18 137139 3
DW 29 170687 7
JOY 21 337414 -1
WPG 13 82733 -4

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $182 million. That figure was $452 million in SWFT’s case. Drew Industries, Inc. (NYSE:DW) is the most popular stock in this table. On the other hand WP Glimcher Inc (NYSE:WPG) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Swift Transportation Co (NYSE:SWFT) 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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Disclosure: none.