Ahmet Okumus Bets On AVG Technologies N.V. (AVG)

Ahmet Okumus’ Okumus Fund Management has boosted its passive stake in AVG Technologies N.V. (NYSE:AVG) according to a recent SEC filing. This is the second disclosure made by Okumus Fund Management in the last 45 days. Earlier in a November’13 filing Okumus Fund Management had disclosed a holding of 4.1 million shares of the company, or 7.58% of the company’s outstanding shares. At the end of September Ahmet Okumus had only 989 thousand shares of the company in his portfolio. The stock had plunged sharply since seeing $25 in mid October. Ahmet Okumus probably thinks the stock is a bargain at it current price of $16.85.

AVG Technologies NV (NYSE:AVG)

Other hedge funds holding positions in AVG Technologies (NYSE:AVG) include Robert B. Gillam’s McKinley Capital Management (holding 53.16 million shares valued at $1.27 million), second largest holder after Okumus Fund Management. Holding 2.17 million shares is Israel Englander’s Millennium Management, valued at $5.2 million.  Other interested hedge funds include AQR Capital Management led by Cliff Asness (holding position on 1.35 million shares valued at $3.2 million). Interestingly, John Overdeck And David Siegel’s Two Sigma Advisors hold 1.35 million shares valued at $3.25 million.

AVG Technologies is one of the most popular internet security and anti-virus software companies today. It has traditionally offered desktops protection against malicious software, through a much-loved feature called ‘Secure Search’ when partnered Google Inc to deliver the safe search services. The company’s growth in the past few quarters has been driven by the continued transition to cloud computing and mobile computing across the consumer base. Privacy is a key parameter on both these platforms and AVG addresses these needs with technology solutions that can deliver the same on both the platforms.

Disclosure: none

Recommended Reading:

Heartware International, Inc. (HTWR) now has Adage Capital Management Interest

5 Stocks Hedge Funds Bought Recently

Perry Corp Trims Position in North American Energy Partners Inc.(USA) (NOA)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!