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Sandy Spring Bancorp Inc. (SASR) Hedge Funds Are Snapping Up

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Is Sandy Spring Bancorp Inc. (NASDAQ:SASR) ready to rally soon? Investors who are in the know are altogether betting on the stock. The number of bullish hedge fund investments moved up by 2 lately. SASR was in 8 hedge funds’ portfolios at the end of the third quarter of 2016. There were 6 hedge funds in our database with SASR holdings at the end of the previous quarter. At the end of this article we will also compare SASR to other stocks including ORBCOMM Inc (NASDAQ:ORBC), Perficient, Inc. (NASDAQ:PRFT), and Investors Real Estate Trust (NYSE:IRET) to get a better sense of its popularity.

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How have hedgies been trading Sandy Spring Bancorp Inc. (NASDAQ:SASR)?

Heading into the fourth quarter of 2016, a total of 8 of the hedge funds tracked by Insider Monkey were bullish on this stock, up by 33% from the second quarter of 2016. By comparison, 7 hedge funds held shares or bullish call options in SASR heading into this year. So, let’s find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

SASR Chart

When looking at the institutional investors followed by Insider Monkey, Renaissance Technologies, one of the largest hedge funds in the world, has the biggest position in Sandy Spring Bancorp Inc. (NASDAQ:SASR), worth close to $7.9 million. Sitting at the No. 2 spot is Mark Lee of Forest Hill Capital, with a $7.7 million position; 3.8% of its 13F portfolio is allocated to the stock. Remaining professional money managers that are bullish comprise Cliff Asness’ AQR Capital Management, and Ken Griffin’s Citadel Investment Group. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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