How PACCAR Inc (PCAR) Stacks Up Against Its Peers

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that got rid of their entire stakes in the stock during the third quarter. Interestingly, Philippe Jabre’s Jabre Capital Partners got rid of the largest position of all the hedgies followed by Insider Monkey, comprising about $6.5 million in call options, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund said goodbye to about $6.1 million worth of call options.

Let’s check out hedge fund activity in other stocks similar to PACCAR Inc (NASDAQ:PCAR). We will take a look at Franklin Resources, Inc. (NYSE:BEN), Mylan Inc. (NASDAQ:MYL), The Hershey Company (NYSE:HSY), and Southern Copper Corp (NYSE:SCCO). This group of stocks’ market valuations are closest to PCAR’s market valuation.

As you can see these stocks had an average of 29 hedge funds with bullish positions and the average amount invested in these stocks was $1.14 billion. That figure was $371 million in PCAR’s case. Mylan Inc. (NASDAQ:MYL) is the most popular stock in this table. On the other hand Southern Copper Corp (NYSE:SCCO) is the least popular one with only 12 bullish hedge fund positions. PACCAR Inc (NASDAQ:PCAR) 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 MYL might be a better candidate to consider taking a long position in.

Disclosure: None