Do Hedge Funds Love Lakeland Industries, Inc. (LAKE)?

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Consequently, key hedge funds have jumped into Lakeland Industries, Inc. (NASDAQ:LAKE) headfirst. Algert Coldiron Investors initiated a $0.7 million position during the quarter. The other funds with new positions in the stock are Mike Vranos’s Ellington, Israel Englander’s Millennium Management, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s also examine hedge fund activity in other stocks similar to Lakeland Industries, Inc. (NASDAQ:LAKE). We will take a look at Nicholas Financial, Inc. (NASDAQ:NICK), Managed High Yield Plus Fund Inc. (NYSE:HYF), BRT Realty Trust (NYSE:BRT), and Cerulean Pharma Inc (NASDAQ:CERU). All of these stocks’ market caps are closest to Lakeland Industries, Inc. (NASDAQ:LAKE)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NICK 4 8327 -1
HYF 4 10617 0
BRT 4 13149 0
CERU 6 5540 -1

As you can see, these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $9 million. That figure was $11 million in Lakeland Industries, Inc. (NASDAQ:LAKE)’s case. Cerulean Pharma Inc (NASDAQ:CERU) is the most popular stock in this table. On the other hand, Nicholas Financial, Inc. (NASDAQ:NICK) is the least popular one with only 4 bullish hedge fund positions. Lakeland Industries, Inc. (NASDAQ:LAKE) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Cerulean Pharma Inc (NASDAQ:CERU) might be a better candidate to consider a long position.

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