Hedge Funds Are Selling Green Plains Renewable Energy Inc. (GPRE)

Since Green Plains Renewable Energy Inc. (NASDAQ:GPRE) has faced bearish sentiment from hedge fund managers, we can see that there were a few fund managers who were dropping their entire stakes heading into Q4. At the top of the heap, Christopher A. Winham’s Tide Point Capital cut the biggest investment of all the hedgies watched by Insider Monkey, totaling about $5.5 million in stock, and Jim Simons’s Renaissance Technologies was right behind this move, as the fund said goodbye to about $2.9 million worth of GPRE shares. These bearish behaviors are intriguing to say the least, as total hedge fund interest fell by 10 funds heading into Q4.

Let’s now take a look at hedge fund activity in other stocks similar to Green Plains Renewable Energy Inc. (NASDAQ:GPRE). We will take a look at Cardinal Financial Corporation (NASDAQ:CFNL), State Bank Financial Corp (NASDAQ:STBZ), Navigator Holdings Ltd (NYSE:NVGS), and Capital Southwest Corporation (NASDAQ:CSWC). This group of stocks’ market valuations resemble GPRE’s market valuation.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $164 million. Coincidentally, all four companies in this group have attracted the attention of the same number of funds: 11. Green Plains Renewable Energy Inc. (NASDAQ:GPRE) easily outshines the lot, as it can be found in the portfolios of 17 elite funds, who have control over an estimated $172 million worth of stock. 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.