What Hedge Funds Think About General Motors Company (GM)

Since General Motors Company (NYSE:GM) has faced a declination in interest from the entirety of the hedge funds we track, it’s safe to say that there is a sect of fund managers that slashed their entire stakes in the third quarter. Interestingly, Jamie Zimmerman’s Litespeed Management said goodbye to the biggest position of all the hedgies followed by Insider Monkey, totaling close to $91.7 million in call options, and Matthew Halbower’s Pentwater Capital Management was right behind this move, as the fund cut about $86.2 million worth. These bearish behaviors are important to note, as total hedge fund interest was cut by 4 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to General Motors Company (NYSE:GM). We will take a look at Time Warner Cable Inc. (NYSE:TWC), National Grid plc (ADR) (NYSE:NGG), Baidu.com, Inc. (ADR) (NASDAQ:BIDU), and salesforce.com inc. (NYSE:CRM). This group of stocks’ market caps resemble GM’s market cap.

As you can see these stocks had an average of 57 hedge funds with bullish positions and the average amount invested in these stocks was $5.31 billion. That figure was $4.93 billion in GM’s case. Time Warner Cable Inc. (NYSE:TWC) is the most popular stock in this table. On the other hand National Grid plc (ADR) (NYSE:NGG) is the least popular one with only seven bullish hedge fund positions. General Motors Company (NYSE:GM) is not the most popular stock in this group, but hedge fund interest is still above average.

Disclosure: None