Is Brookline Bancorp, Inc. (BRKL) A Good Stock To Buy?

Because Brookline Bancorp, Inc. (NASDAQ:BRKL) has gone through a decline in interest from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of fund managers that decided to sell off their full holdings by the end of the third quarter. It’s worth mentioning that Paul Tudor Jones’s Tudor Investment Corp got rid of the largest position of the “upper crust” of funds followed by Insider Monkey, totaling about $0.4 million in stock. Dmitry Balyasny’s fund, Balyasny Asset Management, also cut its stock, about $0.2 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to Brookline Bancorp, Inc. (NASDAQ:BRKL). These stocks are Jumei International Holding Ltd (ADR) (NYSE:JMEI), Eclipse Resources Corp (NYSE:ECR), A. Schulman Inc (NASDAQ:SHLM), and Duluth Holdings Inc (NASDAQ:DLTH). This group of stocks’ market values match BRKL’s market value.

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 $54 million. That figure was $36 million in BRKL’s case. Eclipse Resources Corp (NYSE:ECR) is the most popular stock in this table. On the other hand Duluth Holdings Inc (NASDAQ:DLTH) is the least popular one with only 8 bullish hedge fund positions. Brookline Bancorp, Inc. (NASDAQ:BRKL) 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 ECR might be a better candidate to consider taking a long position in.

Disclosure: none.