United Insurance Holdings Corp (UIHC): 50% Jump in Hedge Fund Ownership; What Have They Uncovered?

As aggregate interest increased, specific money managers were breaking ground themselves. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke and John Campbell, initiated the biggest position in United Insurance Holdings Corp (NASDAQ:UIHC). Arrowstreet Capital had $1.3 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $0.9 million investment in the stock during the quarter. The following funds were also among the new UIHC investors: Matthew Hulsizer’s PEAK6 Capital Management, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as United Insurance Holdings Corp (NASDAQ:UIHC) but similarly valued. We will take a look at Agenus Inc (NASDAQ:AGEN), Golden Ocean Group Ltd (NASDAQ:GOGL), Neuroderm Ltd (NASDAQ:NDRM), and Ares Commercial Real Estate Corp (NYSE:ACRE). This group of stocks’ market caps resemble UIHC’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $57 million. That figure was $30 million in UIHC’s case. Neuroderm Ltd (NASDAQ:NDRM) is the most popular stock in this table. On the other hand Golden Ocean Group Ltd (NASDAQ:GOGL) is the least popular one with only 3 bullish hedge fund positions. United Insurance Holdings Corp (NASDAQ:UIHC) is not the most popular stock in this group but hedge fund interest is still above average. This is a positive signal, as we’d rather spend our time researching stocks that hedge funds are piling in recently. In this regard, UIHC might be a good candidate to consider taking a long position in.

Disclosure: None