Hedge Funds Are Buying Spok Holdings, Inc. (SPOK)

With a general bullishness amongst the heavyweights, some big names have jumped into Spok Holdings, Inc. (NASDAQ:SPOK) headfirst. Algert Coldiron Investors, managed by Peter Algert and Kevin Coldiron, created the most outsized position in Spok Holdings, Inc. (NASDAQ:SPOK), worth an estimated $0.6 million at the end of the quarter. D. E. Shaw’s D E Shaw also made a $0.3 million investment in the stock during the quarter. The other funds with brand new SPOK positions are Peter Muller’s PDT Partners and Neil Chriss’s Hutchin Hill Capital.

Let’s go over hedge fund activity in other stocks similar to Spok Holdings, Inc. (NASDAQ:SPOK). These stocks are Jive Software Inc (NASDAQ:JIVE), Powell Industries, Inc. (NASDAQ:POWL), Bank Mutual Corporation (NASDAQ:BKMU), and One Liberty Properties, Inc. (NYSE:OLP). This group of stocks’ market valuations are closest to SPOK’s market valuation.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $26 million. That figure was $33 million in SPOK’s case. Jive Software Inc (NASDAQ:JIVE) is the most popular stock in this table. On the other hand One Liberty Properties, Inc. (NYSE:OLP) and Bank Mutual Corporation (NASDAQ:BKMU) are the laggards with only 6 bullish hedge fund positions eacg. Spok Holdings, Inc. (NASDAQ:SPOK) is not the most popular stock in this group, but hedge fund interest is still above average. Although this is a slightly positive signal, we’d rather spend our time researching stocks that hedge funds are piling on. In this regard JIVE might be a better candidate to consider a long position.