Is Reis Inc (NASDAQ:REIS) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from industry insiders. They fail miserably sometimes but historically their consensus stock picks outperformed the market after adjusting for known risk factors.
Is Reis Inc (NASDAQ:REIS) a sound investment today? The smart money is taking a bullish view. The number of bullish hedge fund bets rose by 1 recently. REIS was in 9 hedge funds’ portfolios at the end of September. There were 8 hedge funds in our database with REIS positions at the end of the previous quarter. At the end of this article we will also compare REIS to other stocks including American Science & Engineering, Inc. (NASDAQ:ASEI), OMNOVA Solutions Inc. (NYSE:OMN), and Oclaro, Inc. (NASDAQ:OCLR) to get a better sense of its popularity.
Today there are numerous signals shareholders employ to analyze publicly traded companies. A couple of the less utilized signals are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the top picks of the best hedge fund managers can outperform the S&P 500 by a very impressive amount (see the details here).
With all of this in mind, let’s review the new action surrounding Reis Inc (NASDAQ:REIS).
Hedge fund activity in Reis Inc (NASDAQ:REIS)
At Q3’s end, a total of 9 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 13% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exist a few noteworthy hedge fund managers who were boosting their stakes meaningfully (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Nine Ten Partners, managed by Brian Bares, Russell Mollen, and James Bradshaw, holds the number one position in Reis Inc (NASDAQ:REIS). Nine Ten Partners has an $19.5 million position in the stock, comprising 8.8% of its 13F portfolio. On Nine Ten Partners’s heels is Renaissance Technologies, led by Jim Simons, holding an $5.6 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Remaining members of the smart money that are bullish consist of Peter Schliemann’s Rutabaga Capital Management, J. Carlo Cannell’s Cannell Capital and Mark Coe’s Coe Capital Management.