Here is What Hedge Funds Think About Verint Systems Inc. (VRNT)

As industrywide interest jumped, some big names have jumped into Verint Systems Inc. (NASDAQ:VRNT) headfirst. Destrier Capital, managed by Michael Pollack, initiated the most outsized position in Verint Systems Inc. (NASDAQ:VRNT). Destrier Capital had $8.1 million invested in the company at the end of the quarter. Neil Chriss’s Hutchin Hill Capital also initiated a $4.7 million position during the quarter. The other funds with new positions in the stock are Paul Marshall and Ian Wace’s Marshall Wace LLP, Ken Griffin’s Citadel Investment Group, and Clint Carlson’s Carlson Capital.

Let’s now take a look at hedge fund activity in other stocks similar to Verint Systems Inc. (NASDAQ:VRNT). These stocks are PBF Energy Inc (NYSE:PBF), AllianceBernstein Holding LP (NYSE:AB), Platform Specialty Products Corp (NYSE:PAH), and Lancaster Colony Corp. (NASDAQ:LANC). This group of stocks’ market caps are closest to VRNT’s market cap.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $601 million, above the $331 million figure in VRNT’s case. Platform Specialty Products Corp (NYSE:PAH) is the most popular stock in this table. On the other hand AllianceBernstein Holding LP (NYSE:AB) is the least popular one with only 8 bullish hedge fund positions. Verint Systems Inc. (NASDAQ:VRNT) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PAH might be a better candidate to consider a long position.