How Suffolk Bancorp (SCNB) Stacks Up Against Its Peers Using This Metric

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that sold off their entire stakes in the stock during the third quarter. Intriguingly, Joshua Nash’s Ulysses Management sold off the biggest position of the 700 funds watched by Insider Monkey, valued at about $3.1 million in stock. Matthew Tewksbury’s fund, Stevens Capital Management, also dropped its stock, about $0.4 million worth.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Suffolk Bancorp (NYSE:SCNB) but similarly valued. We will take a look at Lindblad Expeditions Holdings Inc (NASDAQ:LIND), DXP Enterprises Inc (NASDAQ:DXPE), AAC Holdings Inc (NYSE:AAC), and Genesis Healthcare Inc (NYSE:GEN). This group of stocks’ market values are similar to SCNB’s market value.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $34 million. That figure was $45 million in SCNB’s case. Lindblad Expeditions Holdings Inc (NASDAQ:LIND) is the most popular stock in this table. On the other hand Genesis Healthcare Inc (NYSE:GEN) is the least popular one with only 5 bullish hedge fund positions. Suffolk Bancorp (NYSE:SCNB) 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 LIND might be a better candidate to consider taking a long position in.

Disclosure: None