Workiva Inc (WK): Does It Hold Up Against Its Peers Using This Key Metric?

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With general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Israel Englander’s Millennium Management created the most valuable position in Workiva Inc (NYSE:WK). Millennium Management had $2.1 million invested in the company at the end of the quarter. Espalier Global Management also initiated a $1.8 million position during the quarter. The following funds were also among the new WK investors: Potrero Capital Research and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Workiva Inc (NYSE:WK) but similarly valued. We will take a look at Rapid7 Inc (NASDAQ:RPD), Superior Industries International Inc. (NYSE:SUP), S.Y. Bancorp, Inc. (NASDAQ:SYBT), and Overseas Shipholding Group, Inc. Class A (NYSE:OSG). All of these stocks’ market caps match WK’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
RPD 7 16593 0
SUP 14 88612 -2
SYBT 5 1786 5
OSG 20 121174 5

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $57 million. That figure was $56 million in WK’s case. Overseas Shipholding Group, Inc. Class A (NYSE:OSG) is the most popular stock in this table. On the other hand S.Y. Bancorp, Inc. (NASDAQ:SYBT) is the least popular one with only 5 bullish hedge fund positions. Workiva Inc (NYSE:WK) 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 OSG might be a better candidate to consider taking a long position in.

Disclosure: None

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