Hedge Funds Are Overweight PTC Inc (PTC)

Since PTC Inc (NASDAQ:PTC) has experienced declining sentiment from hedge fund managers, it’s safe to say that there were a few fund managers who sold off their positions entirely in the third quarter. Intriguingly, Alex Sacerdote’s Whale Rock Capital said goodbye to the biggest position of the 700 funds tracked by Insider Monkey, worth close to $11.3 million in stock. Jacob Gottlieb’s fund, Visium Asset Management, also dumped its stock, about $9 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest dropped by 2 funds in the third quarter.

Let’s also examine hedge fund activity in other stocks similar to PTC Inc (NASDAQ:PTC). These stocks are Sally Beauty Holdings, Inc. (NYSE:SBH), Scotts Miracle-Gro Co (NYSE:SMG), White Mountains Insurance Group Ltd (NYSE:WTM), and Amtrust Financial Services, Inc. (NASDAQ:AFSI). This group of stocks’ market valuations match PTC’s market valuation.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $184 million. That figure was $988 million in PTC’s case. Amtrust Financial Services, Inc. (NASDAQ:AFSI) is the most popular stock in this table. On the other hand Sally Beauty Holdings, Inc. (NYSE:SBH) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks PTC Inc (NASDAQ:PTC) 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