Bank of N.T. Butterfield & Son Ltd (NTB): How Smart Money Traded the Stock Following Its IPO

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Let’s go over hedge fund activity in other stocks similar to Bank of N.T. Butterfield & Son Ltd (NYSE:NTB). These stocks are American Axle & Manufact. Holdings, Inc. (NYSE:AXL), American Woodmark Corporation (NASDAQ:AMWD), Community Health Systems (NYSE:CYH), and Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM). All of these stocks’ market caps are closest to NTB’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AXL 25 211082 0
AMWD 14 134948 0
CYH 37 275553 4
TSEM 26 237449 9

As you can see these stocks had an average of 26 funds with bullish positions and the average amount invested in these stocks was $215 million. That figure was $121 million in NTB’s case. Community Health Systems (NYSE:CYH) is the most popular stock in this table with 37 funds holding shares. On the other hand American Woodmark Corporation (NASDAQ:AMWD) is the least popular one with only 14 bullish hedge fund positions. Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) 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 Community Health Systems (NYSE:CYH) might be a better candidate to consider taking a long position in.

Disclosure: none

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