Is Amber Road Inc (NYSE:AMBR) a good bet right now? We like to analyze hedge fund sentiment before doing days of in-depth research. We do so because hedge funds and other elite investors have numerous Ivy league graduates, expert network advisers, and supply chain tipsters working or consulting for them. There is not a shortage of news stories covering failed hedge fund investments (for some reason media paid a ton of attention to Ackman’s gigantic JC Penney and Valeant failures) and it is a fact that hedge funds’ picks don’t beat the market 100% of the time, but their consensus picks have historically done very well and have outperformed the market after adjusting for risk.
Hedge fund interest in Amber Road Inc (NYSE:AMBR) shares was flat at the end of last quarter. This is usually a negative indicator. At the end of this article we will also compare AMBR to other stocks including Alaska Communications Systems Group Inc (NASDAQ:ALSK), ASB Bancorp Inc (NASDAQ:ASBB), and PC Tel Inc (NASDAQ:PCTI) to get a better sense of its popularity.
Keeping this in mind, let’s take a peek at the recent action encompassing Amber Road Inc (NYSE:AMBR).
What have hedge funds been doing with Amber Road Inc (NYSE:AMBR)?
At Q3’s end, a total of 7 of the hedge funds tracked by Insider Monkey were long this stock, unchanged from the second quarter. With the smart money’s capital changing hands, there exists a select group of noteworthy hedge fund managers who were upping their holdings substantially (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Michael Murphy and Daniel Donoghue’s Discovery Group has the number one position in Amber Road Inc (NYSE:AMBR), worth close to $10.9 million, accounting for 3.7% of its total 13F portfolio. Coming in second is Chuck Royce of Royce & Associates, with an $0.9 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Remaining hedge funds and institutional investors that hold long positions comprise Mark Coe’s Coe Capital Management, Jim Simons’ Renaissance Technologies and Israel Englander’s Millennium Management.