NeoPhotonics Corp (NPTN) Hedge Funds Are Snapping Up

As industrywide interest jumped, specific money managers have been driving this bullishness. Quentec Asset Management, led by Ken Hahn, established the largest position in NeoPhotonics Corp (NYSE:NPTN). Quentec Asset Management had $7.3 million invested in the company at the end of the quarter. Andrew Sandler’s Sandler Capital Management also initiated a $4.5 million position during the quarter. The following funds were also among the new NPTN investors: Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Ken Griffin’s Citadel Investment Group, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as NeoPhotonics Corp (NYSE:NPTN) but similarly valued. We will take a look at Spok Holdings Inc (NASDAQ:SPOK), Carriage Services, Inc. (NYSE:CSV), Invacare Corporation (NYSE:IVC), and Medifast, Inc. (NYSE:MED). This group of stocks’ market caps resemble NPTN’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $55 million. That figure was $98 million in NPTN’s case. Invacare Corporation (NYSE:IVC) is the most popular stock in this table. On the other hand Spok Holdings Inc (NASDAQ:SPOK) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks NeoPhotonics Corp (NYSE:NPTN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None