Hedge Funds Are Dumping Pacific Premier Bancorp, Inc. (PPBI)

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Because Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has experienced bearish sentiment from hedge fund managers, it’s safe to say that there lies a certain “tier” of fund managers that elected to cut their positions entirely last quarter. It’s worth mentioning that Israel Englander’s Millennium Management sold off the biggest position of all the hedgies followed by Insider Monkey, valued at close to $0.6 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund said goodbye to about $0.3 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) but similarly valued. We will take a look at Novocure Ltd (NASDAQ:NVCR), Kelly Services, Inc. (NASDAQ:KELYA), TerraForm Global Inc (NASDAQ:GLBL), and Sandy Spring Bancorp Inc. (NASDAQ:SASR). All of these stocks’ market caps are similar to PPBI’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NVCR 8 44671 2
KELYA 10 37124 1
GLBL 15 124310 -1
SASR 8 19400 2

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $56 million. That figure was $29 million in PPBI’s case. TerraForm Global Inc (NASDAQ:GLBL) is the most popular stock in this table. On the other hand Novocure Ltd (NASDAQ:NVCR) is the least popular one with only 8 bullish hedge fund positions. Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) 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 GLBL might be a better candidate to consider taking a long position in.

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Disclosure: None

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