Due to the fact that Berry Plastics Group Inc (NYSE:BERY) has experienced a falling interest from the aggregate hedge fund industry, it’s easy to see that there lies a certain “tier” of money managers that elected to cut their positions entirely heading into Q4. It’s worth mentioning that Malcolm Fairbairn’s Ascend Capital cut the largest investment of the “upper crust” of funds monitored by Insider Monkey, valued at about $64.6 million in stock. Ross Margolies’ fund, Stelliam Investment Management, also sold off its stock, about $58.3 million worth of shares. These moves are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Berry Plastics Group Inc (NYSE:BERY) but similarly valued. We will take a look at Autohome Inc (ADR) (NYSE:ATHM), Seaboard Corp (NYSEMKT:SEB), Umpqua Holdings Corp (NASDAQ:UMPQ), and National Instruments Corp (NASDAQ:NATI). This group of stocks’ market valuations matches Berry Plastics Group Inc (NYSE:BERY)’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see, these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $248 million. That figure was $1.10 billion in Berry Plastics Group Inc (NYSE:BERY)’s case. Umpqua Holdings Corp (NASDAQ:UMPQ) is the most popular stock in this table. On the other hand, Seaboard Corp (NYSEMKT:SEB) is the least popular one with only 7 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.