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
