Stuart Peterson's Artis Capital Management kept cutting its stake in Comverge Inc (COMV) during the first quarter. According to a recently filed 13G/A filing, Artis Capital cut its stake in the stock to 2%. Comverge gained more than 40% this year. This is only a $46 million market cap company. Artis Capital owned 7.49% of the company at the end of December.
In the meantime William C. Martin's Raging Capital Management disclosed an activist position in Comverge (COMV). Philip Hempleman's Ardsley Partners is also among the hedge funds with large positions in the company.
According to Yahoo Finance Comverge, Inc. provides intelligent energy management (IEM) solutions for utilities, commercial and industrial customers, and residential consumers. The company operates in two segments, Residential Business and Commercial and Industrial Business. The Residential Business segment offers IEM solutions for residential and small commercial end-use participants. Its solutions include IntelliSOURCE software that provides demand management functionality enabling control of various end-use devices and systems, integration into the utility customers back office operational systems, and inter-operability with advanced metering infrastructure, as well as offers a two-way real-time communication link to residential customers; a suite of intelligent hardware comprising one-way load control switches, smart thermostats, and in-home displays; and services, including installation, marketing, and program management.