Hedge Funds Are Souring On Blue Hills Bancorp Inc (BHBK)

Seeing as Blue Hills Bancorp Inc (NASDAQ:BHBK) has sustained bearish sentiment from hedge fund managers, we can see that there was a specific group of hedge funds that decided to sell off their full holdings last quarter. At the top of the heap, Michael M. Rothenberg’s Moab Capital Partners dumped the biggest investment of all the hedgies followed by Insider Monkey, worth about $0.4 million in stock, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital was right behind this move, as the fund dumped about $0.1 million worth of shares.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Blue Hills Bancorp Inc (NASDAQ:BHBK) but similarly valued. These stocks are One Liberty Properties, Inc. (NYSE:OLP), Stonegate Bank (NASDAQ:SGBK), The First of Long Island Corporation (NASDAQ:FLIC), and EZCORP Inc (NASDAQ:EZPW). This group of stocks’ market caps resemble BHBK’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $60 million. That figure was $48 million in BHBK’s case. EZCORP Inc (NASDAQ:EZPW) is the most popular stock in this table. On the other hand One Liberty Properties, Inc. (NYSE:OLP) is the least popular one with only 7 bullish hedge fund positions. Blue Hills Bancorp Inc (NASDAQ:BHBK) 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 recently. In this regard SGBK might be a better candidate to consider taking a long position in.

Disclosure: None