First Defiance Financial (FDEF): Hedge Funds Are Snapping Up

Consequently, key money managers were leading the bulls’ herd. AQR Capital Management, managed by Cliff Asness, created the most outsized position in First Defiance Financial (NASDAQ:FDEF). AQR Capital Management had $0.4 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also made a $0.4 million investment in the stock during the quarter. The only other fund with a brand new FDEF position is Ken Griffin’s Citadel Investment Group.

Let’s also examine hedge fund activity in other stocks similar to First Defiance Financial (NASDAQ:FDEF). We will take a look at Versartic Inc (NASDAQ:VSAR), Everi Holdings Inc (NYSE:EVRI), American Vanguard Corp. (NYSE:AVD), and Enova International Inc (NYSE:ENVA). This group of stocks’ market caps are similar to FDEF’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $68 million. That figure was $22 million in FDEF’s case. Everi Holdings Inc (NYSE:EVRI) is the most popular stock in this table. On the other hand American Vanguard Corp. (NYSE:AVD) is the least popular one with only 6 bullish hedge fund positions. First Defiance Financial (NASDAQ:FDEF) 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 EVRI might be a better candidate to consider a long position.