Hedge Funds Are Betting On Northwest Bancshares, Inc. (NWBI)

Now, key hedge funds were breaking ground themselves. Tudor Investment Corp, led by Paul Tudor Jones, established the biggest position in Northwest Bancshares, Inc. (NASDAQ:NWBI). According to regulatory filings, the fund had $0.5 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also made a $0.1 million investment in the stock during the quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Northwest Bancshares, Inc. (NASDAQ:NWBI) but similarly valued. We will take a look at Government Properties Income Trust (NYSE:GOV), Pennsylvania R.E.I.T. (NYSE:PEI), WD-40 Company (NASDAQ:WDFC), and Portfolio Recovery Associates, Inc. (NASDAQ:PRAA). This group of stocks’ market valuations are closest to NWBI’s market valuation.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $80 million. That figure was $36 million in NWBI’s case. Pennsylvania R.E.I.T. (NYSE:PEI) is the most popular stock in this table. On the other hand Government Properties Income Trust (NYSE:GOV) is the least popular one with only 6 bullish hedge fund positions. Northwest Bancshares, Inc. (NASDAQ:NWBI) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PEI might be a better candidate to consider taking a long position in.

Disclosure: None