Do Hedge Funds Love Flushing Financial Corporation (FFIC)?

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As one would reasonably expect, some big names have been driving this bullishness. AlphaOne Capital Partners created the largest position in Flushing Financial Corporation (NASDAQ:FFIC). AlphaOne Capital Partners had $2.2 million invested in the company at the end of the quarter. Citadel Investment Group also initiated a $0.6 million position during the quarter. The other funds with brand new Flushing Financial Corporation (NASDAQ:FFIC) positions are Israel Englander’s Millennium Management and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s also examine hedge fund activity in other stocks similar to Flushing Financial Corporation (NASDAQ:FFIC). We will take a look at M/I Homes Inc (NYSE:MHO), Blueprint Medicines Corp (NASDAQ:BPMC), Silver Bay Realty Trust Corp (NYSE:SBY), and MakeMyTrip Limited (NASDAQ:MMYT). This group of stocks’ market caps are closest to Flushing Financial Corporation (NASDAQ:FFIC)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MHO 16 61104 7
BPMC 14 153250 0
SBY 12 72048 -4
MMYT 12 89006 -5

As you can see, these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $94 million. That figure was $32 million in Flushing Financial Corporation (NASDAQ:FFIC)’s case. M/I Homes Inc (NYSE:MHO) is the most popular stock in this table. On the other hand, Silver Bay Realty Trust Corp (NYSE:SBY) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks, Flushing Financial Corporation (NASDAQ:FFIC) is even less popular than Silver Bay Realty Trust Corp (NYSE:SBY). Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case, more research is warranted.

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