How Pernix Therapeutics Holdings Inc (PTX) Stacks Up Against Its Peers

We already know that not all hedge funds are bullish on the stock and some hedge funds actually sold off their positions entirely. Interestingly, Cliff Asness’ AQR Capital Management sold off the biggest stake of the 700 funds tracked by Insider Monkey, valued at an estimated $0.6 million in stock. Paul Tudor Jones’ fund, Tudor Investment Corp, also dumped its stock, about $0.1 million worth.

Let’s now review hedge fund activity in other stocks similar to Pernix Therapeutics Holdings Inc (NASDAQ:PTX). We will take a look at Hudson Global Inc (NASDAQ:HSON), Concurrent Computer Corp (NASDAQ:CCUR), Lincoln Educational Services Corporation (NASDAQ:LINC), and MGT Capital Investments Inc. (OTCMKTS:MGT). This group of stocks’ market valuations are similar to PTX’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HSON 4 12186 -1
CCUR 3 3923 -1
LINC 4 7762 0
MGT 3 676 -1

As you can see these stocks had an average of 4 hedge funds with bullish positions and the average amount invested in these stocks was $6 million. That figure was $9 million in PTX’s case. Hudson Global Inc (NASDAQ:HSON) is the most popular stock in this table. On the other hand Concurrent Computer Corp (NASDAQ:CCUR) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Pernix Therapeutics Holdings Inc (NASDAQ:PTX) 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, bearing in mind that hedge fund sentiment continues to fall.

Disclosure: None