Hedge Funds Are Buying Carolina Bank Holding Inc. (NC) (CLBH)

Now, key money managers were leading the bulls’ herd. Elizabeth Park Capital Management initiated the biggest position in Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH). Elizabeth Park Capital Management had $0.3 million invested in the company at the end of the quarter.

Let’s also examine hedge fund activity in other stocks similar to Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH). We will take a look at Vericel Corp (NASDAQ:VCEL), Town Sports International Holdings, Inc. (NASDAQ:CLUB), Ion Geophysical Corp (NYSE:IO), and Global Power Equipment Group Inc (NASDAQ:GLPW). This group of stocks’ market caps are similar to Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH)’s market cap.

As you can see, these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $17 million. That figure was $11 million in Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH)’s case. Global Power Equipment Group Inc (NASDAQ:GLPW) is the most popular stock in this table. On the other hand, Vericel Corp (NASDAQ:VCEL) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks, Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH) is even less popular than Vericel Corp (NASDAQ:VCEL). Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case, more research is warranted.