Warning: Hedge Funds Are Fleeing Newell Brands Inc (NWL)

Due to the fact that Newell Brands Inc (NYSE:NWL) has experienced falling interest from the entirety of the hedge funds we track, logic holds that there were a few money managers that decided to sell off their entire stakes last quarter. It’s worth mentioning that Andreas Halvorsen’s Viking Global dumped the largest position of the 700 funds watched by Insider Monkey, worth about $482.6 million in stock, and Bain Capital’s Brookside Capital was right behind this move, as the fund sold off about $99.8 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest fell by 12 funds last quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Newell Brands Inc (NYSE:NWL) but similarly valued. These stocks are Universal Health Services, Inc. (NYSE:UHS), Ameren Corp (NYSE:AEE), Perrigo Company (NASDAQ:PRGO), and Fidelity National Financial Inc (NYSE:FNF). This group of stocks’ market values resemble NWL’s market value.

As you can see these stocks had an average of 28 hedge funds with bullish positions and the average amount invested in these stocks was $1.20 billion. That figure was $1.71 billion in NWL’s case. Fidelity National Financial Inc (NYSE:FNF) is the most popular stock in this table. On the other hand Ameren Corp (NYSE:AEE) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Newell Brands Inc (NYSE:NWL) 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, bearing in mind that a lot of top investors sold it off last quarter.

Disclosure: None