Do Hedge Funds Love Impax Laboratories Inc (IPXL)?

Seeing as Impax Laboratories Inc (NASDAQ:IPXL) has faced bearish sentiment from the smart money, it’s safe to say that there were a few funds who were dropping their positions entirely heading into Q4. It’s worth mentioning that Arthur B Cohen and Joseph Healey’s Healthcor Management LP cut the largest position of the “upper crust” of funds followed by Insider Monkey, valued at about $25.3 million in stock. Chase Coleman’s fund, Tiger Global Management LLC, also cut its stock, about $19.7 million worth. These transactions are interesting, as aggregate hedge fund interest dropped by 5 funds heading into Q4.

Let’s go over hedge fund activity in other stocks similar to Impax Laboratories Inc (NASDAQ:IPXL). We will take a look at CST Brands Inc (NYSE:CST), Dana Holding Corporation (NYSE:DAN), Pebblebrook Hotel Trust (NYSE:PEB), and Janus Capital Group Inc (NYSE:JNS). This group of stocks’ market values are closest to IPXL’s market value.

As you can see these stocks had an average of 18.75 hedge funds with bullish positions and the average amount invested in these stocks was $332 million. That figure was $730 million in IPXL’s case. CST Brands Inc (NYSE:CST) is the most popular stock in this table. On the other hand Pebblebrook Hotel Trust (NYSE:PEB) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Impax Laboratories Inc (NASDAQ:IPXL) 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.