This is How Hedge Funds Traded Newly-Listed Planet Fitness Inc (PLNT) in Q3

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Planet Fitness Inc (NYSE:PLNT) but similarly valued. We will take a look at Healthequity Inc (NASDAQ:HQY), Mack Cali Realty Corp (NYSE:CLI), Matson, Inc. (NYSE:MATX), and Alexander & Baldwin Inc (NYSE:ALEX). This group of stocks’ market valuations match PLNT’s market valuation.

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 $102 million. That figure was $62 million in PLNT’s case. Mack Cali Realty Corp (NYSE:CLI) is the most popular stock in this table. On the other hand Alexander & Baldwin Inc (NYSE:ALEX) is the least popular one with only 12 bullish hedge fund positions. Planet Fitness Inc (NYSE:PLNT) 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 CLI might be a better candidate to consider a long position in.