Hedge Funds Have Suddenly Grown Bullish On Oritani Financial Corp. (ORIT): What Did They Discover?

As one would reasonably expect, key hedge funds were breaking ground themselves. Tudor Investment Corp, led by Paul Tudor Jones, assembled the most valuable position in Oritani Financial Corp. (NASDAQ:ORIT). Tudor Investment Corp had $0.5 million invested in the company at the end of the quarter. Robert B. Gillam’s McKinley Capital Management also made a $0.2 million investment in the stock during the quarter. The other funds with brand new ORIT positions are Gary Claar’s Claar Advisors and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now review hedge fund activity in other stocks similar to Oritani Financial Corp. (NASDAQ:ORIT). These stocks are A. Schulman Inc (NASDAQ:SHLM), Northfield Bancorp Inc (NASDAQ:NFBK), Trina Solar Limited (ADR) (NYSE:TSL), and Eldorado Resorts Inc (NASDAQ:ERI). All of these stocks’ market caps resemble ORIT’s market cap.

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 $131 million. That figure was $48 million in ORIT’s case. Eldorado Resorts Inc (NASDAQ:ERI) is the most popular stock in this table. On the other hand Northfield Bancorp Inc (NASDAQ:NFBK) is the least popular one with only 5 bullish hedge fund positions. Oritani Financial Corp. (NASDAQ:ORIT) 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 ERI might be a better candidate to consider taking a long position in.

Disclosure: None