Do Hedge Funds Like Eagle Bancorp, Inc. (EGBN)?

Now, specific money managers have jumped into Eagle Bancorp, Inc. (NASDAQ:EGBN) headfirst. Matthew Tewksbury’s Stevens Capital Management created the most outsized position in Eagle Bancorp, Inc. (NASDAQ:EGBN). Stevens Capital Management had $0.5 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.5 million position during the quarter. The other funds with new positions in the stock are David E. Shaw’s D E Shaw, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and David Costen Haley’s HBK Investments.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Eagle Bancorp, Inc. (NASDAQ:EGBN) but similarly valued. These stocks are Steelcase Inc. (NYSE:SCS), Gannett Co., Inc. (NYSE:GCI), Shutterfly, Inc. (NASDAQ:SFLY), and OM Asset Management PLC (NYSE:OMAM). This group of stocks’ market caps are closest to EGBN’s market cap.

As you can see these stocks had an average of 18 investors with bullish positions and the average amount invested in these stocks was $165 million, which is higher than the $32 million in EGBN’s case. Shutterfly, Inc. (NASDAQ:SFLY) is the most popular stock in this table, while OM Asset Management PLC (NYSE:OMAM) is the least popular one with only 12 bullish hedge fund positions. Eagle Bancorp, Inc. (NASDAQ:EGBN) 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 Shutterfly, Inc. (NASDAQ:SFLY) might be a better candidate to consider taking a long position in.

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Disclosure: None