As aggregate interest increased, specific money managers have jumped into WSFS Financial Corporation (NASDAQ:WSFS) headfirst. Tudor Investment Corp, led by Paul Tudor Jones, initiated the most outsized position in WSFS Financial Corporation (NASDAQ:WSFS). Tudor Investment Corp had $0.6 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $0.4 million investment in the stock during the quarter. The following funds were also among the new WSFS investors: Matthew Tewksbury’s Stevens Capital Management and Mike Vranos’ Ellington.
Let’s check out hedge fund activity in other stocks similar to WSFS Financial Corporation (NASDAQ:WSFS). These stocks are Oxford Industries, Inc. (NYSE:OXM), Glaukos Corp (NYSE:GKOS), Orion Engineered Carbons SA (NYSE:OEC), and Employers Holdings, Inc. (NYSE:EIG). This group of stocks’ market valuations match WSFS’s market valuation.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| OXM | 15 | 123548 | 5 |
| GKOS | 19 | 175123 | 3 |
| OEC | 12 | 121102 | -1 |
| EIG | 10 | 39100 | -2 |
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 $115 million. That figure was $79 million in WSFS’s case. Glaukos Corp (NYSE:GKOS) is the most popular stock in this table. On the other hand Employers Holdings, Inc. (NYSE:EIG) is the least popular one with only 10 bullish hedge fund positions. WSFS Financial Corporation (NASDAQ:WSFS) 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 GKOS might be a better candidate to consider taking a long position in.
Disclosure: None
