The Western Union Company (WU) Slumping On Downgrade, PayPal Purchase; Should You Wire Some Money Into It?

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Hedge fund activity in The Western Union Company (NYSE:WU)

With the smart money’s sentiment swirling, there exists an “upper tier” of key hedge fund managers who were upping their holdings meaningfully.

According to hedge fund intelligence website Insider Monkey, Abrams Capital Management, managed by David Abrams, holds the number one position in The Western Union Company (NYSE:WU). Abrams Capital Management has a $449.7 million position in the stock, which is made up of 21.61 million shares. Sitting at the number two spot is Winton Capital Management, managed by David Harding, which held 5.21 million shares worth $108.5 million. Other members of the smart money that are bullish consist of Joel Greenblatt’s Gotham Asset Management, Charles Clough’s Clough Capital Partners, and John Thaler’s JAT Capital Management.

Since The Western Union Company (NYSE:WU) has experienced falling interest from the aggregate hedge fund industry, it’s easy to see that there were a few fund managers who were dropping their entire stakes by the end of the first quarter. It’s worth mentioning that Kenneth Tropin‘s Graham Capital Management dropped the biggest position of all the hedgies watched by Insider Monkey, valued at an estimated $3.4 million in stock. Matthew Tewksbury’s fund, Stevens Capital Management, also cut its stock, about $2.6 million worth. These transactions are interesting, as total hedge fund interest was cut by two funds at the end of the first quarter.

Finally, combining the latest activity of insiders, the sentiment of hedge fund managers, and the opinion of analysts, we recommend staying away from the shares of The Western Union Company (NYSE:WU) in the near term.

Disclosure: None

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