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|
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.