Does PRGX Global Inc (PRGX) Stack Up Against Its Peers?

Since PRGX Global Inc (NASDAQ:PRGX) has faced a decline in interest from the smart money, it’s easy to see that there is a sect of money managers who were dropping their positions entirely last quarter. It’s worth mentioning that Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners said goodbye to the largest investment of the 700 funds tracked by Insider Monkey, valued at about $0.1 million in stock. Peter Algert and Kevin Coldiron’s fund, Algert Coldiron Investors, also cut its $0.1 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to PRGX Global Inc (NASDAQ:PRGX). We will take a look at pSivida Corp. (NASDAQ:PSDV), TESSCO Technologies, Inc. (NASDAQ:TESS), Aradigm Corporation (NASDAQ:ARDM), and ReneSola Ltd. (ADR) (NYSE:SOL). This group of stocks’ market valuations are similar to PRGX’s market valuation.

As you can see these stocks had an average of 4 hedge funds with bullish positions and the average amount invested in these stocks was $13 million. That figure was $28 million in PRGX’s case. pSivida Corp. (NASDAQ:PSDV) is the most popular stock in this table. On the other hand ReneSola Ltd. (ADR) (NYSE:SOL) is the least popular one with only 2 bullish hedge fund positions. PRGX Global Inc (NASDAQ:PRGX) is tied as the most popular stock in this group and has more money invested in it than any of the other stocks. This is a positive signal, as we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PRGX might be a good candidate to consider taking a long position in.

Disclosure: None