Hedge Funds Are Selling Graphic Packaging Holding Company (GPK)

Judging by the fact that Graphic Packaging Holding Company (NYSE:GPK) has faced a decline in interest from the aggregate hedge fund industry, it’s safe to say that there were a few funds that slashed their entire stakes in the third quarter. Interestingly, First Eagle Investment Management sold off the largest stake of the 700 funds tracked by Insider Monkey, valued at close to $120.6 million in stock, and Joshua Kaufman and Craig Nerenberg’s Brenner West Capital Partners was right behind this move, as the fund dumped about $42.9 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to Graphic Packaging Holding Company (NYSE:GPK). We will take a look at Eaton Vance Corp (NYSE:EV), Retail Properties of America Inc (NYSE:RPAI), Columbia Sportswear Company (NASDAQ:COLM), and Embraer SA (ADR) (NYSE:ERJ). All of these stocks’ market caps resemble GPK’s market cap.

As you can see these stocks had an average of 13 funds holding shares at the end of September and the average amount invested in these stocks was $101 million. That figure was $936 million in GPK’s case. Columbia Sportswear Company (NASDAQ:COLM) is the most popular stock in this table. On the other hand Eaton Vance Corp (NYSE:EV) is the least popular one with only nine investors reporting long positions. Compared to these stocks Graphic Packaging Holding Company (NYSE:GPK) 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.