Hedge Funds Are Crazy About CU Bancorp (CUNB)

As one would reasonably expect, key money managers have been driving this bullishness. AlphaOne Capital Partners established the most valuable position in CU Bancorp (NASDAQ:CUNB). AlphaOne Capital Partners had $1.8 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $0.2 million investment in the stock during the quarter.

Let’s check out hedge fund activity in other stocks similar to CU Bancorp (NASDAQ:CUNB). We will take a look at The First of Long Island Corporation (NASDAQ:FLIC), Mechel OAO (ADR) (NYSE:MTL), Primero Mining Corp (NYSE:PPP), and Modine Manufacturing Co. (NYSE:MOD). This group of stocks’ market caps match CU Bancorp (NASDAQ:CUNB)’s market cap.

As you can see, these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $26 million. That figure was $36 million in CU Bancorp (NASDAQ:CUNB)’s case. Modine Manufacturing Co. (NYSE:MOD) is the most popular stock in this table. On the other hand, The First of Long Island Corporation (NASDAQ:FLIC) is the least popular one with only 6 bullish hedge fund positions. CU Bancorp (NASDAQ:CUNB) 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, Modine Manufacturing Co. (NYSE:MOD) might be a better candidate to consider a long position.