Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here is What Hedge Funds Think About Fidelity Southern Corporation (LION)

Seeing as Fidelity Southern Corporation (NASDAQ:LION) has experienced falling interest from the entirety of the hedge funds we track, it’s safe to say that there was a specific group of money managers who sold off their entire stakes in the third quarter. Intriguingly, Emanuel J. Friedman’s EJF Capital dumped the largest investment of the 700 funds monitored by Insider Monkey, worth about $8.7 million in stock, and Matthew Lindenbaum’s Basswood Capital was right behind this move, as the fund dumped about $3 million worth of shares. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest fell by 1 fund in the third quarter.

Let’s now review hedge fund activity in other stocks similar to Fidelity Southern Corporation (NASDAQ:LION). These stocks are Vanda Pharmaceuticals Inc. (NASDAQ:VNDA), K12 Inc. (NYSE:LRN), Computer Programs & Systems, Inc. (NASDAQ:CPSI), and AngioDynamics, Inc. (NASDAQ:ANGO). This group of stocks’ market caps match LION’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
VNDA 23 280983 -2
LRN 19 59060 1
CPSI 8 12790 -3
ANGO 16 99558 1

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $113 million. That figure was just $53 million in LION’s case. Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) is the most popular stock in this table. On the other hand Computer Programs & Systems, Inc. (NASDAQ:CPSI) is the least popular one with only 8 bullish hedge fund positions. Fidelity Southern Corporation (NASDAQ:LION) 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 VNDA might be a better candidate to consider a long position.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.