With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was Press Ganey Holdings Inc (NYSE:PGND). During the third quarter, the interest towards the stock among the funds we track declined slightly and the company was included in the equity portfolios of 13 funds at the end of September. Let’s take a closer look at the funds that have assembled the largest stakes in Press Ganey Holdings and other developments surrounding the stock.
However, the level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost or decline in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Nelnet, Inc. (NYSE:NNI), Allegheny Technologies Incorporated (NYSE:ATI), and Intersil Corp (NASDAQ:ISIL) to gather more data points.
In the 21st century investor’s toolkit there are several metrics market participants use to appraise their holdings. A couple of the most innovative metrics are hedge fund and insider trading moves. We have shown that, historically, those who follow the top picks of the elite hedge fund managers can trounce the market by a very impressive amount (see the details here).
With all of this in mind, let’s take a look at the new action regarding Press Ganey Holdings Inc (NYSE:PGND).
How are hedge funds trading Press Ganey Holdings Inc (NYSE:PGND)?
At the end of the third quarter, a total of 13 of the hedge funds tracked by Insider Monkey were long this stock, down by one fund over the quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their stakes meaningfully (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, ClearBridge holds the largest position in Press Ganey Holdings Inc (NYSE:PGND), which is worth $8.3 million and comprising 0.2% of its 13F portfolio. Sitting at the No. 2 spot is Crosslink Capital, managed by Seymour Sy Kaufman and Michael Stark, which holds a $4 million position; 0.6% of its 13F portfolio is allocated to the company. Other professional money managers with similar optimism encompass Paul Marshall and Ian Wace’s Marshall Wace LLP, Anand Parekh’s Alyeska Investment Group, and Phill Gross and Robert Atchinson’s Adage Capital Management.