Extreme Networks, Inc (EXTR)Hedge Funds Are Snapping Up

As aggregate interest increased, specific money managers were leading the bulls’ herd. Algert Coldiron Investors, managed by Peter Algert and Kevin Coldiron, initiated the largest position in Extreme Networks, Inc (NASDAQ:EXTR). Algert Coldiron Investors had $2.2 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also made a $1.1 million investment in the stock during the quarter. The following funds were also among the new EXTR investors: D. E. Shaw’s D E Shaw, Noam Gottesman’s GLG Partners, and David Cohen and Harold Levy’s Iridian Asset Management.

Let’s check out hedge fund activity in other stocks similar to Extreme Networks, Inc (NASDAQ:EXTR). These stocks are ProQR Therapeutics NV (NASDAQ:PRQR), Regulus Therapeutics Inc (NASDAQ:RGLS), First Defiance Financial (NASDAQ:FDEF), and Versartic Inc (NASDAQ:VSAR). This group of stocks’ market caps are similar to EXTR’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $66 million, compared to $72 million in EXTR’s case. ProQR Therapeutics NV (NASDAQ:PRQR) is the most popular stock in this table, while First Defiance Financial (NASDAQ:FDEF) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Extreme Networks, Inc (NASDAQ:EXTR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.