Since Kohl’s Corporation (NYSE:KSS) has witnessed bearish sentiment from the aggregate hedge fund industry, it’s safe to say that there were a few fund managers that decided to sell off their full holdings by the end of the third quarter. It’s worth mentioning that Columbus Circle Investors dumped the largest investment of the 700 funds tracked by Insider Monkey, totaling an estimated $156.3 million in stock, and Neil Chriss’s Hutchin Hill Capital was right behind this move, as the fund sold off about $37.6 million worth. These moves are important to note, as total hedge fund interest dropped by 4 funds by the end of the third quarter.
Let’s now review hedge fund activity in other stocks similar to Kohl’s Corporation (NYSE:KSS). We will take a look at Hasbro, Inc. (NASDAQ:HAS), Nasdaq Inc (NASDAQ:NDAQ), Arch Capital Group Ltd. (NASDAQ:ACGL), and Cablevision Systems Corporation (NYSE:CVC). This group of stocks’ market valuations match KSS’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $716 million. That figure was $318 million in KSS’s case. Cablevision Systems Corporation (NYSE:CVC) is the most popular stock in this table. On the other hand Nasdaq Inc (NASDAQ:NDAQ) is the least popular one with only 15 bullish hedge fund positions. Kohl’s Corporation (NYSE:KSS) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CVC might be a better candidate to consider a long position.