Is Hudson Pacific Properties Inc (HPP) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that got rid of their entire stakes in the stock during the third quarter. Interestingly, Anand Parekh’s Alyeska Investment Group got rid of the biggest stake of all the investors monitored by Insider Monkey, worth close to $12.8 million in stock, and Paul Marshall and Ian Wace’s Marshall Wace LLP was right behind this move, as the fund cut about $11.4 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Hudson Pacific Properties Inc (NYSE:HPP) but similarly valued. We will take a look at PIMCO Dynamic Credit Income Fund (NYSE:PCI), Rackspace Hosting, Inc. (NYSE:RAX), Proofpoint Inc (NASDAQ:PFPT), and Zebra Technologies Corp. (NASDAQ:ZBRA). This group of stocks’ market values match HPP’s market value.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $401 million. That figure was $189 million in HPP’s case. Rackspace Hosting, Inc. (NYSE:RAX) is the most popular stock in this table. On the other hand PIMCO Dynamic Credit Income Fund (NYSE:PCI) is the least popular one with only 3 bullish hedge fund positions. Hudson Pacific Properties Inc (NYSE:HPP) 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 RAX might be a better candidate to consider taking a long position in.

Disclosure: none.