Premiere Global Services, Inc. (PGI) Hedge Funds Are Snapping Up

With a general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. The following funds were also among the new PGI investors: Highbridge Capital Management, Noam Gottesman’s GLG Partners, and Michael Hintze’s CQS Cayman LP.

Let’s now review hedge fund activity in other stocks similar to Premiere Global Services, Inc. (NYSE:PGI). These stocks are Valhi, Inc. (NYSE:VHI), Windstream Corporation (NASDAQ:WIN), Universal Electronics Inc (NASDAQ:UEIC), and IAMGOLD Corporation (USA) (NYSE:IAG). This group of stocks’ market valuations is closest to Premiere Global Services, Inc. (NYSE:PGI)’s market valuation.

As you can see, these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $23 million. That figure was $72 million in Premiere Global Services, Inc. (NYSE:PGI)’s case. Windstream Corporation (NASDAQ:WIN) is the most popular stock in this table. On the other hand, Valhi, Inc. (NYSE:VHI) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks, Premiere Global Services, Inc. (NYSE:PGI) 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.