Is Meta Financial Group Inc. (CASH) a Good Stock To Buy?

As one would reasonably expect, some big names were leading the bulls’ herd. Matthew Tewksbury’s Stevens Capital Management initiated the most valuable position in Meta Financial Group Inc. (NASDAQ:CASH). Stevens Capital Management had $0.2 million invested in the company at the end of the quarter.

Let’s also examine hedge fund activity in other stocks similar to Meta Financial Group Inc. (NASDAQ:CASH). We will take a look at Flamel Technologies S.A. (ADR) (NASDAQ:FLML), Ladenburg Thalmann Financial Services (NYSEAMEX:LTS), Camden National Corporation (NASDAQ:CAC), and Pier 1 Imports, Inc. (NYSE:PIR). This group of stocks’ market caps match CASH’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FLML 16 163035 3
LTS 6 1728 1
CAC 6 66695 0
PIR 18 77201 -4

As you can see these stocks had an average of 11 funds with bullish positions and the average amount invested in these stocks was $77 million. That figure was $96 million in CASH’s case. Pier 1 Imports, Inc. (NYSE:PIR) is the most popular stock in this table. On the other hand Ladenburg Thalmann Financial Services (NYSEMKT:LTS) is the least popular one with only six investors holding long positions. Meta Financial Group Inc. (NASDAQ:CASH) 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 Pier 1 Imports, Inc. (NYSE:PIR) might be a better candidate to consider taking a long position in.

Disclosure: None