Continental Resources Stock In Focus
Is CLR (Continental Resources, Inc) a Sensible Stock to Purchase?
By and large, NYSE:CLR (Continental Resources, Inc) shares have not seen much action throughout the third quarter. There was no change in the sentiment from hedge funds, and the stock was included in the portfolios of forty-four hedge funds by the end of September. Nonetheless, the change and degree of hedge fund popularity is not the only factor you should consider to determine a hedge fund's perspective. A stock might experience an increase in popularity, however it might still remain less popular than stocks with similar prices. This is why we intend to examine companies like NYSE:MJN (Mead Johnson Nutrition), NYSE:MAR (Marriott International Inc) and NYSE:IX (ORIX Corporation) to acquire additional data points.
NYSE:CLR has had a decline in interest from managers of hedge funds, so it is safe to assume that there's a group of hedge funds which cut their whole stakes during the third quarter. Revealingly, Glenn Fuhrman, John Phelan and Marc Lisker's MSDC Management sold the largest investment of the 'top tier' of funds, as well as Insider Monkey. This totaled around $19.7 million of stock. Graham Capital Management (Kenneth Tropin's fund) slashed its' stock too, roughly $17.9 million worth. Such transactions are intriguing, because interest on aggregate hedge funds remained the same (which is a bearish indicator in our eyes).
(CLR) Continental Resources, Inc.