This Stock Is Down 40% From Its Peak, So Why Is One Fund Betting $150 Million on It?

With shares well off their highs, one fund is leaning into fundamentals that the market may be overlooking.Dallas-based Permian Investment Partners reported a significant purchase of KBR (KBR 0.43%) in a November 14 SEC filing, increasing its stake by nearly 1.3 million shares shares, which contributed to an estimated $58.8 million position change from quarter to quarter.What HappenedAccording to an SEC filing released on November 14, Permian Investment Partners increased its exposure to KBR (KBR 0.43%) by ...