Is Bridge Bancorp, Inc. (BDGE) A Good Stock To Buy?

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Now, specific money managers were breaking ground themselves. Consector Capital, managed by William Black, initiated the biggest position in Bridge Bancorp, Inc. (NASDAQ:BDGE). Consector Capital had $1.8 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made a $0.2 million investment in the stock during the quarter.

Let’s check out hedge fund activity in other stocks similar to Bridge Bancorp, Inc. (NASDAQ:BDGE). We will take a look at Triple-S Management Corp.(NYSE:GTS), Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), Incontact Inc (NASDAQ:SAAS), and Stock Building Supply Holdings Inc (NASDAQ:STCK). This group of stocks’ market values match BDGE’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GTS 21 76668 6
ARNA 12 36184 -1
SAAS 12 59952 -8
STCK 11 87235 1

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $65 million. That figure was $70 million in BDGE’s case. Triple-S Management Corp.(NYSE:GTS) is the most popular stock in this table. On the other hand Stock Building Supply Holdings Inc (NASDAQ:STCK) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Bridge Bancorp, Inc. (NASDAQ:BDGE) is even less popular than STCK. 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.

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