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Do Hedge Funds Love PRA Health Sciences Inc (PRAH)?

As aggregate interest increased, specific money managers have jumped into PRA Health Sciences Inc (NASDAQ:PRAH) headfirst. Samlyn Capital, managed by Robert Pohly, created the most valuable position in PRA Health Sciences Inc (NASDAQ:PRAH). According to regulatory filings, the fund had $29.9 million invested in the company at the end of the quarter. Anand Parekh’s Alyeska Investment Group also made a $17.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Phill Gross and Robert Atchinson’s Adage Capital Management, Dmitry Balyasny’s Balyasny Asset Management, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s now review hedge fund activity in other stocks similar to PRA Health Sciences Inc (NASDAQ:PRAH). We will take a look at Tech Data Corp (NASDAQ:TECD), Compass Minerals International, Inc. (NYSE:CMP), Allegiant Travel Company (NASDAQ:ALGT), and Pan American Silver Corp. (USA) (NASDAQ:PAAS). This group of stocks’ market caps resemble that of PRAH.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TECD 22 294161 6
CMP 6 74130 -5
ALGT 21 225333 3
PAAS 20 195961 3

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $197 million. That figure was $257 million in PRAH’s case. Tech Data Corp (NASDAQ:TECD) is the most popular stock in this table. On the other hand Compass Minerals International, Inc. (NYSE:CMP) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks PRA Health Sciences Inc (NASDAQ:PRAH) 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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