Is Extreme Networks, Inc (EXTR) A Better Stock Than Its Peers?

Now, specific money managers were breaking ground themselves. Soros Fund Management assembled the most valuable position in Extreme Networks, Inc (NASDAQ:EXTR). Soros Fund Management had $4.8 million invested in the company at the end of the quarter. Neil Chriss’s Hutchin Hill Capital also made a $0.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Robert B. Gillam’s McKinley Capital Management, Wojciech Uzdelewicz’s Espalier Global Management, and Mike Vranos’s Ellington.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Extreme Networks, Inc (NASDAQ:EXTR) but similarly valued. These stocks are Alpine Global Premier Properties Fund (NYSE:AWP), Carrols Restaurant Group, Inc. (NASDAQ:TAST), Anworth Mortgage Asset Corporation (NYSE:ANH), and The Hackett Group, Inc. (NASDAQ:HCKT). This group of stocks’ market caps resemble EXTR’s market cap.

As you can see these stocks had an average of 13.75 hedge funds with bullish positions and the average amount invested in these stocks was $44 million. That figure was $73 million in EXTR’s case. Carrols Restaurant Group, Inc. (NASDAQ:TAST) is the most popular stock in this table. On the other hand Alpine Global Premier Properties Fund (NYSE:AWP) is the least popular one with only 4 bullish hedge fund positions. Extreme Networks, Inc (NASDAQ:EXTR) 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 TAST might be a better candidate to consider taking a long position in.