Do Hedge Funds Love Trustmark Corp (TRMK)?

Due to the fact that Trustmark Corp (NASDAQ:TRMK) has experienced declining sentiment from hedge fund managers, logic holds that there is a sect of money managers that elected to cut their full holdings in the third quarter. At the top of the heap, Ken Griffin’s Citadel Investment Group cut the biggest investment of all the investors monitored by Insider Monkey, worth about $1.3 million in stock. Paul Tudor Jones’s fund, Tudor Investment Corp, also said goodbye to its stock, about $0.3 million worth of shares.

Let’s now review hedge fund activity in other stocks similar to Trustmark Corp (NASDAQ:TRMK). These stocks are Platform Specialty Products Corp (NYSE:PAH), Diplomat Pharmacy Inc (NYSE:DPLO), Synchronoss Technologies, Inc. (NASDAQ:SNCR), and The Dolan Company (NYSE:DM). All of these stocks’ market caps resemble TRMK’s market cap.

As you can see these stocks had an average of 16.75 hedge funds with bullish positions and the average amount invested in these stocks was $265 million. That figure was $34 million in TRMK’s case. Platform Specialty Products Corp (NYSE:PAH) is the most popular stock in this table. On the other hand The Dolan Company (NYSE:DM) is the least popular one with only 4 bullish hedge fund positions. Trustmark Corp (NASDAQ:TRMK) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PAH might be a better candidate to consider taking a long position in.