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Do Hedge Funds Love Electronics For Imaging, Inc. (EFII)?

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Legendary investors such as Leon Cooperman and Seth Klarman earn enormous amounts of money for themselves and their investors by doing in-depth research on small-cap stocks that big brokerage houses don’t publish. Small cap stocks -especially when they are screened well- can generate substantial outperformance versus a boring index fund. That’s why we analyze the activity of those successful funds in these small-cap stocks. In the following paragraphs, we analyze Electronics For Imaging, Inc. (NASDAQ:EFII) from the perspective of those successful funds.

Hedge fund interest in Electronics For Imaging, Inc. (NASDAQ:EFII) shares was flat at the end of last quarter. EFII was in 10 hedge funds’ portfolios at the end of September. This is usually a negative indicator. At the end of this article we will also compare EFII to other stocks including Paylocity Holding Corp (NASDAQ:PCTY), M/A-COM Technology Solutions Holdings (NASDAQ:MTSI), and Matador Resources Co (NYSE:MTDR) to get a better sense of its popularity.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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Hedge fund activity in Electronics For Imaging, Inc. (NASDAQ:EFII)

Heading into the fourth quarter of 2016, a total of 10 of the hedge funds tracked by Insider Monkey were long this stock, unchanged from the second quarter of 2016. On the other hand, there were a total of 14 hedge funds with a bullish position in EFII at the beginning of this year. So, let’s find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

HedgeFundSentimentChart

According to Insider Monkey’s hedge fund database, Eric Bannasch’s Cadian Capital holds the number one position in Electronics For Imaging, Inc. (NASDAQ:EFII) which has a $100.3 million position in the stock, comprising 5.3% of its 13F portfolio. On Cadian Capital’s heels is Nick Niell of Arrowgrass Capital Partners, with a $24.8 million position. Other members of the smart money with similar optimism include Phill Gross and Robert Atchinson’s Adage Capital Management, John Croghan and Richard Fradin’s Rail-Splitter Capital Management and Ira Unschuld’s Brant Point Investment Management. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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