Hedge funds are not perfect. They have their bad picks just like everyone else. Micron, a stock hedge funds have loved, lost 50% during the last 12 months ending in October 30. Although hedge funds are not perfect, their consensus picks do deliver solid returns, however. Our data show the top 30 S&P 500 stocks among hedge funds at the end of September 2014 yielded an average return of 9.5% in the same time period, vs. a gain of 5.2% for the S&P 500 Index. Because hedge funds have a lot of resources and their consensus picks do well, we pay attention to what they think. In this article, we analyze what the elite funds think of First Business Financial Services Inc (NASDAQ:FBIZ).
First Business Financial Services Inc (NASDAQ:FBIZ) was in 4 hedge funds’ portfolios at the end of September. FBIZ investors should be aware of a decrease in hedge fund interest of late. There were 5 hedge funds in our database with FBIZ holdings at the end of the previous quarter. At the end of this article we will also compare FBIZ to other stocks including Clean Energy Fuels Corp (NASDAQ:CLNE), Corcept Therapeutics Incorporated (NASDAQ:CORT), and Multi-Fineline Electronix, Inc. (NASDAQ:MFLX) to get a better sense of its popularity.
With all of this in mind, let’s take a glance at the key action regarding First Business Financial Services Inc (NASDAQ:FBIZ).
Hedge fund activity in First Business Financial Services Inc (NASDAQ:FBIZ)
Heading into Q4, a total of 4 of the hedge funds tracked by Insider Monkey were long this stock, a change of -20% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their stakes meaningfully (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Fred Cummings’s Elizabeth Park Capital Management has the number one position in First Business Financial Services Inc (NASDAQ:FBIZ), worth close to $5.2 million, amounting to 1.7% of its total 13F portfolio. The second largest stake is held by Hutchin Hill Capital, led by Neil Chriss, holding a $3.6 million position; 0.1% of its 13F portfolio is allocated to the company. Other peers that are bullish contain Jim Simons’s Renaissance Technologies, and John Overdeck and David Siegel’s Two Sigma Advisors.