Here is What Hedge Funds Think About PJT Partners Inc (PJT)

Judging by the fact that PJT Partners Inc (NYSE:PJT) has sustained bearish sentiment from the smart money, it’s safe to say that there was a specific group of fund managers who sold off their positions entirely last quarter. Interestingly, Josh Goldberg’s G2 Investment Partners Management sold off the largest investment of the “upper crust” of funds watched by Insider Monkey, totaling close to $0.7 million in stock, and D E Shaw was right behind this move, as the fund cut about $0.6 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to PJT Partners Inc (NYSE:PJT). We will take a look at Bazaarvoice Inc (NASDAQ:BV), Unisys Corporation (NYSE:UIS), Kimball International Inc (NASDAQ:KBAL), and LivePerson, Inc. (NASDAQ:LPSN). All of these stocks’ market caps are similar to PJT’s market cap.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $83 million. That figure was $142 million in PJT’s case. Bazaarvoice Inc (NASDAQ:BV) is the most popular stock in this table. On the other hand Kimball International Inc (NASDAQ:KBAL) is the least popular one with only 9 bullish hedge fund positions. PJT Partners Inc (NYSE:PJT) 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 BV might be a better candidate to consider taking a long position in.

Disclosure: None