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Is Heartland Payment Systems, Inc. (HPY) Going to Burn These Hedge Funds?

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Hedge Funds and other institutional investors have just completed filing their 13Fs with the Securities and Exchange Commission, revealing their equity portfolios as of the end of September. At Insider Monkey, we follow over 700 of the best-performing investors and by analyzing their 13F filings, we can determine the stocks that they are collectively bullish on. One of their picks is Heartland Payment Systems, Inc. (NYSE:HPY), so let’s take a closer look at the sentiment that surrounds it in the current quarter.

Is Heartland Payment Systems, Inc. (NYSE:HPY) going to take off soon? Prominent investors are becoming less hopeful. The number of long hedge fund bets retreated by 1 in recent months. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Grupo Financiero Galicia S.A. (ADR) (NASDAQ:GGAL), Hawk Corporation (NYSE:HAWK), and China Biologic Products Inc (NASDAQ:CBPO) to gather more data points.

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If you’d ask most stock holders, hedge funds are seen as slow, outdated financial vehicles of yesteryear. While there are more than 8000 funds trading at present, Our researchers hone in on the leaders of this club, around 700 funds. These money managers command bulk of the hedge fund industry’s total asset base, and by tailing their top investments, Insider Monkey has uncovered a number of investment strategies that have historically exceeded the S&P 500 index. Insider Monkey’s small-cap hedge fund strategy exceeded the S&P 500 index by 12 percentage points per annum for a decade in their back tests.

With all of this in mind, we’re going to analyze the recent action surrounding Heartland Payment Systems, Inc. (NYSE:HPY).

What have hedge funds been doing with Heartland Payment Systems, Inc. (NYSE:HPY)?

At the Q3’s end, a total of 13 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -7% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their stakes significantly (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Ken Fisher’s Fisher Asset Management has the most valuable position in Heartland Payment Systems, Inc. (NYSE:HPY), worth close to $108.7 million, corresponding to 0.2% of its total 13F portfolio. On Fisher Asset Management’s heels is Lee Munder’s Lee Munder Capital Group, with a $41.1 million position; 0.9% of its 13F portfolio is allocated to the stock. Other professional money managers that hold long positions include Greg Poole’s Echo Street Capital Management, Ira Unschuld’s Brant Point Investment Management and D. E. Shaw’s D E Shaw.

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