Since Kraton Performance Polymers Inc (NYSE:KRA) has faced declining sentiment from the aggregate hedge fund industry, it’s safe to say that there exists a select few hedgies that decided to sell off their entire stakes by the end of the third quarter. Intriguingly, Michael M. Rothenberg’s Moab Capital Partners said goodbye to the largest investment of all the hedgies watched by Insider Monkey, valued at close to $4.7 million in call options., and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dropped about $0.2 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest was cut by 1 funds by the end of the third quarter.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Kraton Performance Polymers Inc (NYSE:KRA) but similarly valued. These stocks are Xura Inc (NASDAQ:MESG), Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI), TriCo Bancshares (NASDAQ:TCBK), and Regenxbio Inc (NASDAQ:RGNX). This group of stocks’ market values are closest to KRA’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $84 million, which is lower than the $128 million in KRA’s case. Regenxbio Inc (NASDAQ:RGNX) is the most popular stock in this table. On the other hand Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Kraton Performance Polymers Inc (NYSE:KRA) 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.