Berry Plastics Group Inc (BERY): Are Hedge Funds Right About This Stock?

Because Berry Plastics Group Inc (NYSE:BERY) has experienced declining sentiment from the aggregate hedge fund industry, it’s safe to say that there is a sect of fund managers that elected to cut their full holdings during the third quarter. At the top of the heap, Barry Rosenstein’s JANA Partners said goodbye to the biggest investment of the 700 funds followed by Insider Monkey, valued at close to $97.5 million in stock, and Brian Taylor’s Pine River Capital Management was right behind this move, as the fund cut about $19.4 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Berry Plastics Group Inc (NYSE:BERY) but similarly valued. These stocks are Skechers USA Inc (NYSE:SKX), MDU Resources Group Inc (NYSE:MDU), Energen Corporation (NYSE:EGN), and ABIOMED, Inc. (NASDAQ:ABMD). All of these stocks’ market caps are similar to BERY’s market cap.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $408 million. That figure was close to $1.30 billion in BERY’s case. With 32 funds holding shares, Energen Corporation (NYSE:EGN) is the most popular stock in this table. On the other hand MDU Resources Group Inc (NYSE:MDU) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Berry Plastics Group Inc (NYSE:BERY) 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.