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Is Oriental Financial Group Inc. (OFG) A Good Stock To Buy?

Since Oriental Financial Group Inc. (NYSE:OFG) has witnessed a declining sentiment from hedge fund managers, it’s easy to see that there exists a select few money managers that slashed their full holdings heading into Q4. Interestingly, Ryan Heslop and Ariel Warszawski’s Firefly Value Partners cut the biggest position of all the hedgies followed by Insider Monkey, valued at close to $2.7 million in stock. Peter Muller’s fund, PDT Partners, also sold off its stock, about $2.5 million worth. These moves are intriguing to say the least, as total hedge fund interest dropped by 2 funds heading into Q4.

Let’s now review hedge fund activity in other stocks similar to Oriental Financial Group Inc. (NYSE:OFG). We will take a look at CEVA, Inc. (NASDAQ:CEVA), Sanchez Energy Corp (NYSE:SN), Lake Shore Gold Corp Ordinary Shares (Canada) (NYSEMKT:LSG), and Daktronics, Inc. (NASDAQ:DAKT). This group of stocks’ market values resemble OFG’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CEVA 11 66643 0
SN 16 35853 2
LSG 7 14211 0
DAKT 10 13019 -3

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $32 million, close to the $31 million in OFG’s case. Sanchez Energy Corp (NYSE:SN) is the most popular stock in this table, while Lake Shore Gold Corp Ordinary Shares (Canada) (NYSEMKT:LSG) is the least popular one with only 7 bullish hedge fund positions. Oriental Financial Group Inc. (NYSE:OFG) 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 SN might be a better candidate to consider a long position.

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