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Weatherford International Ltd (WFT): Are Hedge Funds Right About This Stock?

Seeing as Weatherford International Ltd (NYSE:WFT) has experienced bearish sentiment from the smart money, logic holds that there was a specific group of hedgies who sold off their entire stakes last quarter. Interestingly, Marc Lisker, Glenn Fuhrman and John Phelan’s MSDC Management said goodbye to the biggest position of the “upper crust” of funds watched by Insider Monkey, totaling close to $24.2 million in stock. John Orrico’s fund, Water Island Capital, also sold off its stock, about $7.8 million worth. These bearish behaviors are important to note, as total hedge fund interest fell by 8 funds last quarter.

Let’s now review hedge fund activity in other stocks similar to Weatherford International Ltd (NYSE:WFT). These stocks are Broadridge Financial Solutions, Inc. (NYSE:BR), Iron Mountain Incorporated (NYSE:IRM), Western Gas Partners, LP (NYSE:WES), and Israel Chemicals Ltd. (NYSE:ICL). This group of stocks’ market caps match WFT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BR 25 304384 1
IRM 14 373721 -5
WES 6 32933 2
ICL 5 154799 -1

As you can see these stocks had an average of 12.5 hedge funds with bullish positions and the average amount invested in these stocks was $216 million. That figure was $598 million in WFT’s case. Broadridge Financial Solutions, Inc. (NYSE:BR) is the most popular stock in this table. On the other hand Israel Chemicals Ltd. (NYSE:ICL) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Weatherford International Ltd (NYSE:WFT) 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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