Hedge Funds Aren’t Crazy About Great Western Bancorp Inc (GWB) Anymore

Seeing as Great Western Bancorp Inc (NYSE:GWB) has faced a declining sentiment from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of funds that slashed their entire stakes in the third quarter. It’s worth mentioning that Ken Griffin’s Citadel Investment Group cashed in the biggest position of all the investors monitored by Insider Monkey, valued at about $2.5 million in stock, and Matthew Tewksbury’s Stevens Capital Management was right behind this move, as the fund said goodbye to about $0.7 million worth of shares.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Great Western Bancorp Inc (NYSE:GWB) but similarly valued. We will take a look at TerraForm Power Inc (NASDAQ:TERP), Badger Meter, Inc. (NYSE:BMI), New Relic Inc (NYSE:NEWR), and Matthews International Corp (NASDAQ:MATW). All of these stocks’ market caps match GWB’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $182 million. That figure was $44 million in GWB’s case. TerraForm Power Inc (NASDAQ:TERP) is the most popular stock in this table. On the other hand Matthews International Corp (NASDAQ:MATW) is the least popular one with only 10 bullish hedge fund positions. Great Western Bancorp Inc (NYSE:GWB) 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 TERP might be a better candidate to consider taking a long position in.

Disclosure: None