We already know that not all hedge funds are bullish on the stock and some hedge funds actually cut their positions entirely. It’s worth mentioning that Ken Griffin’s Citadel Investment Group cut the biggest stake of the 700 funds monitored by Insider Monkey, comprising about $4 million in stock. George Hall’s fund, Clinton Group, also cut its stock, about $1.1 million worth.
Let’s now take a look at hedge fund activity in other stocks similar to Jack Henry & Associates, Inc. (NASDAQ:JKHY). These stocks are FMC Technologies, Inc. (NYSE:FTI), Parsley Energy Inc (NYSE:PE), EQT GP Holdings LP (NYSE:EQGP), and Bed Bath & Beyond Inc. (NASDAQ:BBBY). All of these stocks’ market caps match JKHY’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 30 hedge funds with bullish positions and the average amount invested in these stocks was $601 million. That figure was $172 million in JKHY’s case. Parsley Energy Inc (NYSE:PE) is the most popular stock in this table. On the other hand EQT GP Holdings LP (NYSE:EQGP) is the least popular one with only 3 bullish hedge fund positions. Jack Henry & Associates, Inc. (NASDAQ:JKHY) 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 PE might be a better candidate to consider taking a long position in.