Hedge Funds Are Betting On Hanmi Financial Corp (HAFC)

As one would reasonably expect, key hedge funds were breaking ground themselves. Clinton Group, led by George Hall, assembled the biggest position in Hanmi Financial Corp (NASDAQ:HAFC). Clinton Group had $0.2 million invested in the company at the end of the quarter. Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital also initiated a $5,000 position during the quarter.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Hanmi Financial Corp (NASDAQ:HAFC) but similarly valued. We will take a look at Gamco Investors Inc. (NYSE:GBL), Crossamerica Partners LP (NYSE:CAPL), Cardinal Financial Corporation (NASDAQ:CFNL), and TriMas Corp (NASDAQ:TRS). This group of stocks’ market valuations are closest to HAFC’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GBL 9 14014 0
CAPL 5 26687 0
CFNL 11 70084 2
TRS 17 73263 1

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $46 million. That figure was $49 million in HAFC’s case. TriMas Corp (NASDAQ:TRS) is the most popular stock in this table. On the other hand Crossamerica Partners LP (NYSE:CAPL) is the least popular one with only 5 bullish hedge fund positions. Hanmi Financial Corp (NASDAQ:HAFC) 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 TRS might be a better candidate to consider taking a long position in.

Disclosure: None