Is Hudson City Bancorp, Inc. (NASDAQ:HCBK) a bargain? The smart money is becoming less confident. The number of bullish hedge fund bets retreated by 7 recently.
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Keeping this in mind, let’s take a look at the key action regarding Hudson City Bancorp, Inc. (NASDAQ:HCBK).
Hedge fund activity in Hudson City Bancorp, Inc. (NASDAQ:HCBK)
At the end of the fourth quarter, a total of 22 of the hedge funds we track held long positions in this stock, a change of -24% from the previous quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their stakes substantially.
Of the funds we track, AQR Capital Management, managed by Cliff Asness, holds the most valuable position in Hudson City Bancorp, Inc. (NASDAQ:HCBK). AQR Capital Management has a $109 million position in the stock, comprising 0.5% of its 13F portfolio. The second largest stake is held by Robert Emil Zoellner of Alpine Associates, with a $101 million position; 1.9% of its 13F portfolio is allocated to the stock. Some other hedge funds with similar optimism include Clint Carlson’s Carlson Capital, Nick Niell’s Arrowgrass Capital Partners and Jane Mendillo’s Harvard Management Co.
Due to the fact that Hudson City Bancorp, Inc. (NASDAQ:HCBK) has faced bearish sentiment from the entirety of the hedge funds we track, it’s easy to see that there lies a certain “tier” of hedge funds that slashed their positions entirely in Q4. It’s worth mentioning that Ervin Shindell’s Roundkeep Capital Advisors cut the largest stake of the “upper crust” of funds we watch, valued at close to $38 million in stock., and Jean-Marie Eveillard of First Eagle Investment Management was right behind this move, as the fund dropped about $19 million worth. These moves are important to note, as aggregate hedge fund interest dropped by 7 funds in Q4.
How have insiders been trading Hudson City Bancorp, Inc. (NASDAQ:HCBK)?
Bullish insider trading is at its handiest when the company in focus has seen transactions within the past six months. Over the latest half-year time period, Hudson City Bancorp, Inc. (NASDAQ:HCBK) has experienced zero unique insiders buying, and 1 insider sales (see the details of insider trades here).
With the returns exhibited by Insider Monkey’s tactics, everyday investors must always pay attention to hedge fund and insider trading activity, and Hudson City Bancorp, Inc. (NASDAQ:HCBK) is an important part of this process.
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