Hedge Funds Are Buying Anchor BanCorp Wisconsin Inc (DE) (ABCW)

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Millennium Management, managed by Israel Englander, established the largest position in Anchor BanCorp Wisconsin Inc (DE) (NASDAQ:ABCW). Millennium Management had $0.7 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.4 million position during the quarter. The only other fund with a new position in the stock is John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s go over hedge fund activity in other stocks similar to Anchor BanCorp Wisconsin Inc. (PINK:ABCW). These stocks are Connecticut Water Service, Inc. (NASDAQ:CTWS), First Business Financial Services Inc (NASDAQ:FBIZ), Clean Energy Fuels Corp (NASDAQ:CLNE), and Corcept Therapeutics Incorporated (NASDAQ:CORT). This group of stocks’ market values are similar to ABCW’s market value.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $8 million, which is considerably lower than the $111 million in ABCW’s case. Corcept Therapeutics Incorporated (NASDAQ:CORT) is the most popular stock in this table. On the other hand First Business Financial Services Inc (NASDAQ:FBIZ) is the least popular one with only 4 bullish hedge fund positions. Anchor BanCorp Wisconsin Inc (DE) (NASDAQ:ABCW) 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 CORT might be a better candidate to consider a long position.