Here is What Hedge Funds Think About Hudson Pacific Properties Inc (HPP)

Since Hudson Pacific Properties Inc (NYSE:HPP) has witnessed a declination in interest from the smart money, we can see that there is a sect of hedge funds that elected to cut their positions entirely heading into Q4. It’s worth mentioning that Dmitry Balyasny’s Balyasny Asset Management dumped the biggest position of the “upper crust” of funds watched by Insider Monkey, worth close to $7.2 million in stock. John Overdeck and David Siegel’s fund, Two Sigma Advisors, also said goodbye to its stock, about $5.1 million worth of shares. These moves are important to note, as aggregate hedge fund interest dropped by 3 funds heading into Q4.

Let’s check out hedge fund activity in other stocks similar to Hudson Pacific Properties Inc (NYSE:HPP). These stocks are Wintrust Financial Corp (NASDAQ:WTFC), Infinera Corp. (NASDAQ:INFN), Clean Harbors Inc (NYSE:CLH), and World Fuel Services Corporation (NYSE:INT). This group of stocks’ market values is closest to Hudson Pacific Properties Inc (NYSE:HPP)’s market value.

As you can see, these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $208 million. That figure was $247 million in Hudson Pacific Properties Inc (NYSE:HPP)’s case. Infinera Corp. (NASDAQ:INFN) is the most popular stock in this table. On the other hand, Wintrust Financial Corp (NASDAQ:WTFC) is the least popular one with only 11 bullish hedge fund positions. Hudson Pacific Properties Inc (NYSE:HPP) 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, Infinera Corp. (NASDAQ:INFN) might be a better candidate to consider a long position.