Hedge Funds Are Dumping Olympic Steel, Inc. (ZEUS)

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These stocks are Community Bankers Trust Corp. (NASDAQ:ESXB), Houston Wire & Cable Company (NASDAQ:HWCC), Manning and Napier Inc (NYSE:MN), and CUI Global Inc (NASDAQ:CUI). This group of stocks’ market valuations are closest to ZEUS’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ESXB 5 13802 5
HWCC 9 28259 -1
MN 11 27896 -3
CUI 6 22546 -1

As you can see these stocks had an average of 7.75 hedge funds with bullish positions and the average amount invested in these stocks was $23 million. That figure was $4 million in ZEUS’s case. Manning and Napier Inc (NYSE:MN) is the most popular stock in this table. On the other hand Community Bankers Trust Corp. (NASDAQ:ESXB) is the least popular one with only 5 bullish hedge fund positions. Olympic Steel, Inc. (NASDAQ:ZEUS) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MN might be a better candidate to consider a long position.

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