Hedge Funds Are Doubling Down On WSFS Financial Corporation (WSFS): What Do They See In This Stock?

As aggregate interest increased, specific money managers have jumped into WSFS Financial Corporation (NASDAQ:WSFS) headfirst. Tudor Investment Corp, led by Paul Tudor Jones, initiated the most outsized position in WSFS Financial Corporation (NASDAQ:WSFS). Tudor Investment Corp had $0.6 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $0.4 million investment in the stock during the quarter. The following funds were also among the new WSFS investors: Matthew Tewksbury’s Stevens Capital Management and Mike Vranos’ Ellington.

Let’s check out hedge fund activity in other stocks similar to WSFS Financial Corporation (NASDAQ:WSFS). These stocks are Oxford Industries, Inc. (NYSE:OXM), Glaukos Corp (NYSE:GKOS), Orion Engineered Carbons SA (NYSE:OEC), and Employers Holdings, Inc. (NYSE:EIG). This group of stocks’ market valuations match WSFS’s market valuation.

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 $115 million. That figure was $79 million in WSFS’s case. Glaukos Corp (NYSE:GKOS) is the most popular stock in this table. On the other hand Employers Holdings, Inc. (NYSE:EIG) is the least popular one with only 10 bullish hedge fund positions. WSFS Financial Corporation (NASDAQ:WSFS) 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 GKOS might be a better candidate to consider taking a long position in.

Disclosure: None