The Hackett Group, Inc. (HCKT): Are Hedge Funds Right About This Stock?

Since The Hackett Group, Inc. (NASDAQ:HCKT) has faced falling interest from the aggregate hedge fund industry, we can see that there exists a select few hedgies that slashed their full holdings heading into Q4. Intriguingly, Richard Driehaus’ Driehaus Capital sold off the largest position of all the hedgies tracked by Insider Monkey, worth an estimated $2.7 million in stock. Mark Coe’s fund, Coe Capital Management, also dropped its stock, about $1.8 million worth.

Let’s check out hedge fund activity in other stocks similar to The Hackett Group, Inc. (NASDAQ:HCKT). We will take a look at KEYW Holding Corp. (NASDAQ:KEYW), FairPoint Communications Inc (NASDAQ:FRP), Peoples Bancorp Inc. (NASDAQ:PEBO), and BP Prudhoe Bay Royalty Trust (NYSE:BPT). This group of stocks’ market values resemble HCKT’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
KEYW 9 12250 4
FRP 16 158299 -2
PEBO 4 6404 1
BPT 2 484 0

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $44 million. That figure was $37 million in HCKT’s case. FairPoint Communications Inc (NASDAQ:FRP) is the most popular stock in this table. On the other hand BP Prudhoe Bay Royalty Trust (NYSE:BPT) is the least popular one with only 2 bullish hedge fund positions. The Hackett Group, Inc. (NASDAQ:HCKT) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard FRP might be a better candidate to consider taking a long position in.

Disclosure: None