Tom Brown’s Second Curve Capital Raises Its Stake in Meta Financial Group Inc. (CASH)

Second Curve Capital, a hedge fund managed by Tom Brown, has revealed in a filing with the Securities and Exchange Commission boosting its position in Meta Financial Group Inc. (NASDAQ:CASH). The fund reported holding nearly 306,100 shares, equal to 5.01% of the company’s common stock. Earlier, in its latest 13F, Second Curve included a position in Meta Financial Group that contained close to 150,000 shares.

Meta Financial Group

Meta Financial Group Inc. (NASDAQ:CASH) is a U.S. bank holding company that conducts its operations primarily through its wholly owned subsidiary MetaBank. In February the company reported a net income of $3.0 million for the first quarter of its fiscal 2014, up from $3.1 million a year ago. Its first quarter assets edged up to $1.79 billion, from $1.62 billion posted a year ago. At the same time the company’s EPS amounted to $0.65 in the first quarter, above the last year result of $0.57, but lower than the consensus estimate of $0.69. For the current quarter, the company is expected to show earnings of $0.90 per share.

Out of the funds tracked by us at Insider Monkey, several ‘hedgies’ disclosed stakes in Meta Financial Group Inc. (NASDAQ:CASH). Jim Simons‘ Renaissance Technologies holds a $4.04 million position, which amasses 100,100 shares, followed by Malcolm Fairbairn‘s Ascend Capital with 42,500 shares, worth $1.71 million. Both Renaissance and Ascend inched up their holdings during the last quarter of 2013. However, in the latest round of 13F filings, Second Curve was one of the most bullish funds, raising its position in Meta Financial Group Inc. (NASDAQ:CASH) by almost an eightfold during the October-December period.

Second Curve’s largest portion of the equity portfolio is invested in the Financial sector. NewStar Financial Inc (NASDAQ:NEWS) is the most valuable holding, which amasses almost 20% of the fund’s $481.59 equity portfolio, the position amassing 4.94 million shares. Bank of America Corp (NYSE:BAC) comes next, with a $57.34 million stake, containing 8.86 million shares.

Disclosure: none

Recommended Reading:

Second Curve Capital Top Picks Include NewStar Financial Inc (NEWS), Bank of America Corp (BAC) & Others

Second Curve Capital Reveals Moves Into Regional Management Corp (RM), Seacoast Banking Corporation of Florida (SBCF) & Others

Jeff Gramm of Bandera Partners to Be Elected to Ambassadors Group Inc (EPAX)’s Board

 

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!