What Hedge Funds Think About P.A.M. Transportation Services, Inc. (PTSI)

Since P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) has experienced falling interest from the entirety of the hedge funds we track, logic holds that there were a few fund managers that decided to sell off their full holdings last quarter. Intriguingly, Ken Griffin’s Citadel Investment Group said goodbye to the biggest stake of the “upper crust” of funds watched by Insider Monkey, valued at close to $0.4 million in stock. Peter Muller’s fund, PDT Partners, also said goodbye to its stock, about $0.2 million worth. These bearish behaviors are interesting, as total hedge fund interest fell by 3 funds last quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) but similarly valued. These stocks are Applied Genetic Technologies Corp (NASDAQ:AGTC), Cascade Microtech, Inc. (NASDAQ:CSCD), Franklin Financial Network Inc (NYSE:FSB), and DURECT Corporation (NASDAQ:DRRX). This group of stocks’ market valuations are similar to PTSI’s market valuation.

As you can see these stocks had an average of 7.75 hedge funds with bullish positions and the average amount invested in these stocks was $35 million. That figure stood at $14 million in PTSI’s case. Applied Genetic Technologies Corp (NASDAQ:AGTC) is the most popular stock in this table with 11 long positions, while Franklin Financial Network Inc (NYSE:FSB) is the least popular one. Compared to these stocks, we can see that hedge funds are not very fond of P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) either. It does not necessarily suggest that PTSI is a bad long investment, and it may be the case that the stock has been under the hedge funds’ radars. In any case, we think that it is better to focus on stocks that enjoy more popularity among hedge funds and Applied Genetic Technologies Corp may be a better alternative to consider.