Deerfield Management Ups Passive Stake In Streamline Health Solutions Inc. (STRM) To 12.18%

“Given the healthy sales activity we are experiencing early into our second quarter, we firmly believe that our first quarter performance will represent the bottom of the curve. We believe that our key fundamentals will show improvement in the coming quarters, from continued solid bookings, to improving top line revenue growth, to cash on the balance sheet and reduction in our debt,” Streamline Health Solutions Inc. (NASDAQ:STRM) President and Chief Executive Officer (CEO) David W. Sides said in a statement.

As mentioned, Streamline Health Solutions Inc. (NASDAQ:STRM)’s stock performance has not been very impressive long term, or in the nearer term, declining by 36.77% year-to-date (YTD), compared to an industry gain of 3.46%.

At the end of the first quarter of 2015, a total of six of the hedge funds tracked by Insider Monkey were bullish on Streamline Health Solutions Inc. (NASDAQ:STRM), unchanged from the end of the fourth quarter of 2014. The total value of holdings held by the funds tracked by Insider Monkey decreased to $13.6 million, compared to $16.0 million. However, as shares slid by 18% during that time, that accounts for the dip in capital. Aside from Deerfield, Justin John Ferayorni’s Tamarack Capital Management holds 1.14 million shares of Streamline Health Solutions Inc. (NASDAQ:STRM) as of the end of March. Another shareholder of the company is Peter Keane’s Keane Capital Management, holding 414,025 shares as of the end of the first quarter.

Disclosure: None