Judging by the fact that Delta Air Lines, Inc. (NYSE:DAL) has witnessed bearish sentiment from the entirety of the hedge funds we track, we can see that there lies a certain “tier” of hedgies who sold off their entire stakes by the end of the third quarter. It’s worth mentioning that Robert Polak’s Anchor Bolt Capital dumped the largest stake of the 700 funds watched by Insider Monkey, valued at about $97.4 million in stock. First Eagle Investment Management, also sold off its stock, about $90.1 million worth. These bearish behaviors are important to note, as total hedge fund interest was cut by nine funds during the third quarter.
Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Delta Air Lines, Inc. (NYSE:DAL) but similarly valued. These stocks are BB&T Corporation (NYSE:BBT), PPG Industries, Inc. (NYSE:PPG), Liberty Global Inc. (NASDAQ:LBTYA), and Royal Bank of Scotland Group plc (ADR) (NYSE:RBS). This group of stocks’ market values resemble DAL’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| BBT | 22 | 181498 | 2 |
| PPG | 34 | 725616 | -3 |
| LBTYA | 52 | 2089982 | 1 |
| RBS | 10 | 20902 | 1 |
As you can see, these stocks had an average of 30 funds with bullish positions and the average amount invested in these stocks was $754 million at the end of September. On the other hand, hedge funds amassed $4.97 billion worth of DAL’s stock. Liberty Global Inc. (NASDAQ:LBTYA) is the most popular stock in this table. On the other hand Royal Bank of Scotland Group plc (ADR) (NYSE:RBS) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Delta Air Lines, Inc. (NYSE:DAL) 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.
