Constant Contact Inc (CTCT): Hedge Funds Are Snapping Up

As one would reasonably expect, some big names were breaking ground themselves. G2 Investment Partners Management, managed by Josh Goldberg, assembled the most valuable call position in Constant Contact Inc (NASDAQ:CTCT). G2 Investment Partners Management had $1.9 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $0.3 million position during the quarter. The other funds with new positions in the stock are Peter Muller’s PDT Partners and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Constant Contact Inc (NASDAQ:CTCT) but similarly valued. We will take a look at Innophos Holdings, Inc. (NASDAQ:IPHS), Saia Inc (NASDAQ:SAIA), Atento SA (NYSE:ATTO), and HMS Holdings Corp. (NASDAQ:HMSY). This group of stocks’ market valuations are closest to CTCT’s market valuation.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $86 million. That figure was $134 million in CTCT’s case. HMS Holdings Corp. (NASDAQ:HMSY) is the most popular stock in this table. On the other hand Atento SA (NYSE:ATTO) is the least popular one with only 5 bullish hedge fund positions. Constant Contact Inc (NASDAQ:CTCT) 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 HMSY might be a better candidate to consider for a potential investment.