Hedge Funds Keep Buying IBERIABANK Corp (IBKC)

With general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Tudor Investment Corp, led by Paul Tudor Jones, assembled the largest position in IBERIABANK Corporation (NASDAQ:IBKC). Tudor Investment Corp had $0.7 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also made a $0.4 million investment in the stock during the quarter. The following funds were also among the new IBKC investors: James Dondero’s Highland Capital Management and David Costen Haley’s HBK Investments.

Let’s now take a look at hedge fund activity in other stocks similar to IBERIABANK Corporation (NASDAQ:IBKC). These stocks are REGAL-BELOIT CORPORATION (NYSE:RBC), Companhia Paranaense de Energia (ADR) (NYSE:ELP), Kite Pharma Inc (NASDAQ:KITE), and Cree, Inc. (NASDAQ:CREE). All of these stocks’ market caps resemble IBKC’s market cap.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $131 million. That figure was $79 million in IBKC’s case. Kite Pharma Inc (NASDAQ:KITE) is the most popular stock in this table. On the other hand Companhia Paranaense de Energia (ADR) (NYSE:ELP) is the least popular one with only 10 bullish hedge fund positions. IBERIABANK Corporation (NASDAQ:IBKC) 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 KITE might be a better candidate to consider taking a long position in.

Disclosure: None