Investors Keeping Their Money Away From Lakeland Bancorp, Inc. (LBAI)

Consequently, specific money managers were breaking ground themselves. Citadel Investment Group created the largest position in Lakeland Bancorp, Inc. (NASDAQ:LBAI). Citadel Investment Group had $0.4 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also made a $0.1 million investment in the stock during the quarter.

Let’s go over hedge fund activity in other stocks similar to Lakeland Bancorp, Inc. (NASDAQ:LBAI). These stocks are Eldorado Resorts Inc (NASDAQ:ERI), Green Plains Partners LP (NASDAQ:GPP), Overstock.com, Inc. (NASDAQ:OSTK), and Inovio Pharmaceuticals Inc (NASDAQ:INO). This group of stocks’ market caps resemble Lakeland Bancorp, Inc.’s market cap.

As you can see these stocks had an average of 10.5 hedge funds with bullish positions and the average amount invested in these stocks was $64 million. That figure was $13 million in Lakeland Bancorp, Inc.’s case. Overstock.com, Inc. (NASDAQ:OSTK) is the most popular stock in this table. On the other hand Green Plains Partners LP (NASDAQ:GPP) is the least popular one with only 7 bullish hedge fund positions. Lakeland Bancorp, Inc. (NASDAQ:LBAI) is not the least popular stock in this group but hedge fund interest is still below average as is the amount of money invested in the stock. This is a negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Overstock.com, Inc. might be a better candidate to consider a long position in.