Hedge Funds Are Betting On United Bankshares, Inc. (UBSI)

Consequently, key money managers have jumped into United Bankshares, Inc. (NASDAQ:UBSI) headfirst. Millennium Management created the biggest position in United Bankshares, Inc. (NASDAQ:UBSI). Millennium Management had $1.5 million invested in the company at the end of the quarter. Michael Platt and William Reeves’s BlueCrest Capital Mgmt. also initiated an $1 million position during the quarter.

Let’s now take a look at hedge fund activity in other stocks similar to United Bankshares, Inc. (NASDAQ:UBSI). These stocks are Black Stone Minerals LP (NYSE:BSM), Fair Isaac Corporation (NYSE:FICO), American National Insurance Company (NASDAQ:ANAT), and Blackbaud, Inc. (NASDAQ:BLKB). This group of stocks’ market values resemble UBSI’s market value.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $130 million. That figure was just $29 million in UBSI’s case. Fair Isaac Corporation (NYSE:FICO) is the most popular stock in this table. On the other hand Black Stone Minerals LP (NYSE:BSM) is the least popular one with only 4 bullish hedge fund positions. United Bankshares, Inc. (NASDAQ:UBSI) 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 FICO might be a better candidate to consider a long position.