How Veritex Holdings Inc (VBTX) Stacks Up Against Its Peers

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Since Veritex Holdings Inc (NASDAQ:VBTX) has witnessed bearish sentiment from hedge fund managers, it’s easy to see that there lies a certain “tier” of funds that elected to cut their positions entirely last quarter. Intriguingly, Anton Schutz’s Mendon Capital Advisors dumped the biggest stake of the 700 funds watched by Insider Monkey, valued at close to $2.6 million in stock. Joseph A. Jolson’s fund, Harvest Capital Strategies, also sold off its stock, about $0.3 million worth.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Veritex Holdings Inc (NASDAQ:VBTX) but similarly valued. These stocks are Alliance One International, Inc. (NYSE:AOI), Southern Missouri Bancorp, Inc. (NASDAQ:SMBC), Solar Senior Capital Ltd (NASDAQ:SUNS), and Performance Sports Group Ltd (NYSE:PSG). This group of stocks’ market caps are similar to VBTX’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AOI 5 24899 -2
SMBC 2 3732 -1
SUNS 4 9144 4
PSG 14 58969 1

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $24 million. That figure was $26 million in VBTX’s case. Performance Sports Group Ltd (NYSE:PSG) is the most popular stock in this table. On the other hand Southern Missouri Bancorp, Inc. (NASDAQ:SMBC) is the least popular one with only 2 bullish hedge fund positions. Veritex Holdings Inc (NASDAQ:VBTX) 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 PSG might be a better candidate to consider taking a long position in.

Disclosure: None

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