Is Packaging Corp Of America (PKG) A Good Stock To Buy?

Let’s now take a look at hedge fund activity in other stocks similar to Packaging Corp Of America (NYSE:PKG). These stocks are Rollins, Inc. (NYSE:ROL), Antero Resources Corp (NYSE:AR), Markit Ltd (NASDAQ:MRKT), and iShares MSCI ACWI Index Fund (NASDAQ:ACWI). All of these stocks’ market caps are similar to PKG’s market cap.

As you can see these stocks had an average of 16.75 hedge funds with bullish positions and the average amount invested in these stocks was $374 million. That figure was $186 million in PKG’s case. Antero Resources Corp (NYSE:AR) is the most popular stock in this table. On the other hand iShares MSCI ACWI Index Fund (NASDAQ:ACWI) is the least popular one with only 5 bullish hedge fund positions. Packaging Corp Of America (NYSE:PKG) 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 AR might be a better candidate to consider a long position.