Is Gulfport Energy Corporation (GPOR) A Good Stock To Buy?

Since Gulfport Energy Corporation (NASDAQ:GPOR) has experienced a declination in interest from hedge fund managers, it’s easy to see that there is a sect of hedgies who were dropping their positions entirely in the third quarter. Intriguingly, John Smith Clark’s Southpoint Capital Advisors dropped the largest investment of the “upper crust” of funds followed by Insider Monkey, totaling an estimated $32.2 million in stock, and John Labanowski’s Brenham Capital Management was right behind this move, as the fund dropped about $32.2 million worth. These moves are important to note, as total hedge fund interest was cut by 7 funds in the third quarter.

Let’s check out hedge fund activity in other stocks similar to Gulfport Energy Corporation (NASDAQ:GPOR). These stocks are Cabelas Inc (NYSE:CAB), Research In BlackBerry Ltd(NASDAQ:BBRY), LaSalle Hotel Properties (NYSE:LHO), and Teledyne Technologies Incorporated (NYSE:TDY). This group of stocks’ market values are closest to GPOR’s market value.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $270 million. That figure was $692 million in GPOR’s case. Cabelas Inc (NYSE:CAB) is the most popular stock in this table. On the other hand Teledyne Technologies Incorporated (NYSE:TDY) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Gulfport Energy Corporation (NASDAQ:GPOR) 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.