Is Gaming and Leisure Properties Inc (GLPI) a Good Buy?

Judging by the fact that Gaming and Leisure Properties Inc (NASDAQ:GLPI) has witnessed bearish sentiment from the entirety of the hedge funds we track, we can see that there lies a certain “tier” of fund managers that elected to cut their positions entirely by the end of the third quarter. Intriguingly, Leon Cooperman’s Omega Advisors cut the biggest stake of all the hedgies followed by Insider Monkey, totaling about $49.7 million in stock, and Parag Vora’s HG Vora Capital Management was right behind this move, as the fund dropped about $29.3 million worth. These transactions are interesting, as aggregate hedge fund interest fell by 4 funds by the end of the third quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Gaming and Leisure Properties Inc (NASDAQ:GLPI) but similarly valued. We will take a look at American Homes 4 Rent (NYSE:AMH), Dillard’s, Inc. (NYSE:DDS), Kirby Corporation (NYSE:KEX), and Atmel Corporation (NASDAQ:ATML). This group of stocks’ market values match GLPI’s market value.

As you can see these stocks had an average of 26.5 hedge funds with bullish positions and the average amount invested in these stocks was $383 million. That figure was $916 million in GLPI’s case. Atmel Corporation (NASDAQ:ATML) is the most popular stock in this table. On the other hand American Homes 4 Rent (NYSE:AMH) is the least popular one with only 16 bullish hedge fund positions. Gaming and Leisure Properties Inc (NASDAQ:GLPI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ATML might be a better candidate to consider a long position.