Now, some big names were breaking ground themselves. Springbok Capital, managed by Gavin Saitowitz and Cisco J. del Valle, established the biggest position in Preferred Bank (NASDAQ:PFBC). Springbok Capital had $0.1 million invested in the company at the end of the quarter.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Preferred Bank (NASDAQ:PFBC) but similarly valued. We will take a look at YRC Worldwide, Inc. (NASDAQ:YRCW), Eclipse Resources Corp (NYSE:ECR), SunCoke Energy Partners LP (NYSE:SXCP), and Imprivata Inc (NYSE:IMPR). All of these stocks’ market caps are similar to PFBC’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
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 $87 million. That figure was $51 million in PFBC’s case. YRC Worldwide, Inc. (NASDAQ:YRCW) is the most popular stock in this table. On the other hand SunCoke Energy Partners LP (NYSE:SXCP) is the least popular one with only 5 bullish hedge fund positions. Preferred Bank (NASDAQ:PFBC) is not the least popular stock in this grou,p 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 YRCW might be a better candidate to consider a long position.