Here is What Hedge Funds Think About Banner Corporation (BANR)

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cut their positions entirely. Interestingly, Matthew Tewksbury’s Stevens Capital Management cut the largest investment of all the investors watched by Insider Monkey, worth about $0.3 million in stock. John Overdeck and David Siegel’s fund, Two Sigma Advisors, also cut its stock worth about $0.3 million worth.

Let’s go over hedge fund activity in other stocks similar to Banner Corporation (NASDAQ:BANR). We will take a look at Nexstar Broadcasting Group, Inc. (NASDAQ:NXST), Euronav NV Ordinary Shares (NYSE:EURN), AAON, Inc. (NASDAQ:AAON), and Nomad Foods Limited Ordinary Shares (NYSE:NOMD). This group of stocks’ market values are closest to BANR’s market value.

As you can see these stocks had an average of 26 funds with bullish positions and the average amount invested in these stocks was $518 million, whiuch is highher than the $185 million figure in BANR’s case. Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) is the most popular stock in this table. On the other hand AAON, Inc. (NASDAQ:AAON) is the least popular one with only nine investors holding shares. Banner Corporation (NASDAQ:BANR) 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 Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) might be a better candidate to consider taking a long position in.

Disclosure: None