Do Hedge Funds Love Heritage Financial Corp (HFWA)?

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Seeing as Heritage Financial Corporation (NASDAQ:HFWA) has experienced a decline in interest from hedge fund managers, we can see that there is a sect of hedge funds that slashed their entire stakes last quarter. It’s worth mentioning that Dmitry Balyasny’s Balyasny Asset Management cut the largest position of all the hedgies monitored by Insider Monkey, comprising close to $0.6 million in stock, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital was right behind this move, as the fund dumped about $7,000 worth of shares.

Let’s go over hedge fund activity in other stocks similar to Heritage Financial Corporation (NASDAQ:HFWA). These stocks are Flexion Therapeutics Inc (NASDAQ:FLXN), Alon USA Partners LP (NYSE:ALDW), Motorcar Parts of America, Inc. (NASDAQ:MPAA), and Sabine Royalty Trust (NYSE:SBR). This group of stocks’ market values are similar to HFWA’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FLXN 8 40444 -3
ALDW 4 3706 4
MPAA 10 63869 -5
SBR 7 13332 0

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $30 million. That figure was $24 million in HFWA’s case. Motorcar Parts of America, Inc. (NASDAQ:MPAA) is the most popular stock in this table. On the other hand Alon USA Partners LP (NYSE:ALDW) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Heritage Financial Corporation (NASDAQ:HFWA) 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.

Disclosure: None

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