How IMPAC Mortgage Holdings, Inc (IMH) Stacks Up Against Its Peers

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Now, some big names have been driving this bullishness. EJF Capital assembled the most outsized position in IMPAC Mortgage Holdings, Inc (NYSE:IMH). Magnetar Capital’s position was also a new one added to its portfolio during the third quarter. The other funds with brand new IMH positions are Pine River Capital Management, Renaissance Technologies, and David E. Shaw’s D E Shaw.

Let’s now review hedge fund activity in other stocks similar to IMPAC Mortgage Holdings, Inc (NYSEMKT:IMH). We will take a look at Build-A-Bear Workshop, Inc (NYSE:BBW), Credit Suisse AM Inc Fund Inc. (NYSEMKT:CIK), Everi Holdings Inc (NYSE:EVRI), and Vectrus Inc (NYSE:VEC). This group of stocks’ market caps are closest to IMH’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BBW 12 40493 0
CIK 2 20656 -2
EVRI 18 46567 1
VEC 13 7018 0

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $29 million. That figure was $6 million in IMH’s case. Everi Holdings Inc (NYSE:EVRI) is the most popular stock in this table. On the other hand Credit Suisse AM Inc Fund Inc. (NYSEMKT:CIK) is the least popular one with only 2 bullish hedge fund positions. IMPAC Mortgage Holdings, Inc (NYSE:IMH) 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 EVRI might be a better candidate to consider taking a long position in.

Disclosure: None

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