What Do Hedge Funds Think of Waste Management, Inc. (WM)?

At the top of the heap, Daniel S. Och’s OZ Management dropped the biggest stake of the “upper crust” of funds monitored by Insider Monkey, worth close to $94.1 million in stock. Matthew Tewksbury’s fund, Stevens Capital Management, also sold off its stock, about $14.2 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Waste Management, Inc. (NYSE:WM) but similarly valued. We will take a look at Activision Blizzard, Inc. (NASDAQ:ATVI), Fiat Chrysler Automobiles NV (NYSE:FCAU), Chipotle Mexican Grill, Inc. (NYSE:CMG), and TransCanada Corporation (USA) (NYSE:TRP). This group of stocks’ market valuations are similar to WM’s market valuation.

As you can see these stocks had an average of 29.75 hedge funds with bullish positions and the average amount invested in these stocks was $1191 million. That figure was $1359 million in WM’s case. Activision Blizzard, Inc. (NASDAQ:ATVI) is the most popular stock in this table. On the other hand TransCanada Corporation (USA) (NYSE:TRP) is the least popular one with only 14 bullish hedge fund positions. Waste Management, Inc. (NYSE:WM) 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 ATVI might be a better candidate to consider a long position.