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Here’s What Smart Money Thinks of Par Pacific Holdings, Inc. (PARR)

As one would reasonably expect, key money managers have jumped into Par Pacific Holdings, Inc. (NYSEMKT:PARR) headfirst. Alec Litowitz and Ross Laser’s Magnetar Capital established the biggest position in Par Pacific Holdings, Inc. (NYSEMKT:PARR). Magnetar Capital had $8.7 million invested in the company at the end of the quarter. Michael Kaine’s Numina Capital also made a $7.2 million investment in the stock during the quarter. The following funds were also among the new PARR investors: Shawn Bergerson and Martin Kalish’s Waterstone Capital Management, Jeffrey Bronchick’s Cove Street Capital, and Israel Englander’s Millennium Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Par Pacific Holdings, Inc. (NYSEMKT:PARR) but similarly valued. We will take a look at MarineMax, Inc. (NYSE:HZO), ShoreTel, Inc. (NASDAQ:SHOR), ChipMOS Technologies (Bermuda) Ltd (NASDAQ:IMOS), and Resources Connection, Inc. (NASDAQ:RECN). This group of stocks’ market values resemble PARR’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HZO 19 64241 7
SHOR 21 137286 5
IMOS 17 207132 -1
RECN 16 63307 4

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $118 million. That figure was $155 million in PARR’s case. ShoreTel, Inc. (NASDAQ:SHOR) is the most popular stock in this table, while Resources Connection, Inc. (NASDAQ:RECN) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Par Pacific Holdings, Inc. (NYSEMKT:PARR) has the same number of funds holding shares as Resources Connection. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: none

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