United Continental Holdings Inc (UAL) Facing Choppy Skies Following Another Snafu

How are hedge funds trading United Continental Holdings Inc (NYSE:UAL)?

According to Insider Monkey’s database, GMT Capital, managed by Thomas E. Claugus, holds the most valuable position in United Continental Holdings Inc (NYSE:UAL). GMT Capital holds around 7.00 million shares worth $474.4 million at the end of March, comprising 11.5% of its 13F portfolio. On GMT Capital’s heels is OZ Management, managed by Daniel S. Och, which held around 5.00 million shares of the company at the end of the first quarter; the fund had 1.1% of its 13F portfolio invested in the stock. Remaining peers with similar optimism contain Brad Gerstner’s Altimeter Capital Management, David Tepper‘s Appaloosa Management LP, and Leon Cooperman‘s Omega Advisors.

Even though the number of hedge fund positions in United Continental Holdings Inc (NYSE:UAL) was reduced by one during the first trimester, the aggregate capital invested into the stock increased. This shows that some hedge funds opted to walk out of the stock, but some hedge funds opened large positions in the stock during the first quarter as well. Notably, GMT Capital also opened the largest position in the stock during the January – March period. Ken Heebner‘s Capital Growth Management said goodbye to the biggest investment in the stock meanwhile, as it dumped around 1.00 million shares.

Hedge funds invested more in United Continental Holdings Inc (NYSE:UAL)  during the first three months, but the company has dropped around 21% of its value since the end of the first quarter and can’t seem to get its operations smoothed over. Considering the recent dip in the stock performance and the negative sentiment swirling around the company, we don’t recommend buying this stock at the moment.

Disclosure: None