Is Press Ganey Holdings Inc (PGND) A Good Stock To Buy?

Since Press Ganey Holdings Inc (NYSE:PGND) has experienced a bearish sentiment from the entirety of the hedge funds we track, it’s safe to say that there was a specific group of money managers that elected to cut their positions entirely last quarter. It’s worth mentioning that Nick Niell’s Arrowgrass Capital Partners sold off the largest position of the “upper crust” of funds tracked by Insider Monkey, valued at close to $10.2 million in stock, and Christopher James’s Partner Fund Management was right behind this move, as the fund dropped about $6.7 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Press Ganey Holdings Inc (NYSE:PGND) but similarly valued. We will take a look at Nelnet, Inc. (NYSE:NNI), Allegheny Technologies Incorporated (NYSE:ATI), Intersil Corp (NASDAQ:ISIL), and Chesapeake Lodging Trust (NYSE:CHSP). This group of stocks’ market caps are closest to PGND’s market cap.

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 $94 million. That figure was $36 million in PGND’s case. Nelnet, Inc. (NYSE:NNI) is the most popular stock in this table. On the other hand Chesapeake Lodging Trust (NYSE:CHSP) is the least popular one with only 12 bullish hedge fund positions. Press Ganey Holdings Inc (NYSE:PGND) 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 NNI might be a better candidate to consider a long position.