What Do Hedge Funds Think of TerraForm Power Inc (TERP)?

Due to the fact that TerraForm Power Inc (NASDAQ:TERP) has witnessed declining sentiment from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of funds who sold off their positions entirely last quarter. Intriguingly, David Gallo’s Valinor Management LLC dumped the largest stake of the “upper crust” of funds tracked by Insider Monkey, totaling about $44 million in stock, and Stuart J. Zimmer’s Zimmer Partners was right behind this move, as the fund dropped about $41.6 million worth. These bearish behaviors are important to note, as total hedge fund interest was cut by 15 funds last quarter.

Let’s go over hedge fund activity in other stocks similar to TerraForm Power Inc (NASDAQ:TERP). These stocks are Cabot Corp (NYSE:CBT), Belden Inc. (NYSE:BDC), Corporate Office Properties Trust (NYSE:OFC), and Glacier Bancorp, Inc. (NASDAQ:GBCI). This group of stocks’ market valuations are closest to TERP’s market valuation.

As you can see these stocks had an average of 19.25 hedge funds with bullish positions and the average amount invested in these stocks was $118 million. That figure was $477 million in TERP’s case. Cabot Corp (NYSE:CBT) is the most popular stock in this table. On the other hand Glacier Bancorp, Inc. (NASDAQ:GBCI) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks TerraForm Power Inc (NASDAQ:TERP) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.