Do Hedge Funds Love Green Plains Inc (GPRE)?

As one would reasonably expect, key money managers have jumped into Green Plains Inc (NASDAQ:GPRE) headfirst. Water Street Capital, managed by Gilchrist Berg, initiated the most valuable position in Green Plains Inc (NASDAQ:GPRE). Water Street Capital had $36.7 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $23.8 million position during the quarter. The following funds were also among the new GPRE investors: Robert Polak’s Anchor Bolt Capital, Benjamin A. Smith’s Laurion Capital Management, and Paul Marshall and Ian Wace’s Marshall Wace LLP.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Green Plains Inc (NASDAQ:GPRE) but similarly valued. These stocks are Hanmi Financial Corp (NASDAQ:HAFC), PharMerica Corporation (NYSE:PMC), Ingles Markets, Incorporated (NASDAQ:IMKTA), and Isle of Capri Casinos (NASDAQ:ISLE). This group of stocks’ market values match GPRE’s market value.

As you can see these stocks had an average of 13.5 hedge funds with bullish positions and the average amount invested in these stocks was $97 million. That figure was $277 million in GPRE’s case. Isle of Capri Casinos (NASDAQ:ISLE) is the most popular stock in this table. On the other hand Hanmi Financial Corp (NASDAQ:HAFC) is the least popular one with only 8 bullish hedge fund positions. Green Plains Inc (NASDAQ:GPRE) 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 ISLE might be a better candidate to consider a long position.

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Disclosure: None