North Run Capital boosted its passive stake in CSG Systems International Inc. (CSGS) to 5.1%, according to a SEC 13G filing on December 2nd. Now North Run Capital takes 1.72 million shares in CSGS. The firm reported 1.70 million shares in CSGS at the end of September and 1.05 million shares in the second quarter. CSGS dropped to its 2-year low in early October. The stock revealed an uptrend after then and is now priced at $14.99, losing 22% year to date.
According to Insider Monkey’s hedge fund tracking list, twelve hedge funds had CSGS in their portfolios in the second quarter. Jim Simons’ Renaissance Technologies had the most, with 1.83 million shares. Steve Shapiro’s Intrepid Capital Management slightly increased its position by 3% and had 1.66 million shares at that time. Ric Dillon’s Diamond Hill Capital increased its position by 24% and had 806 thousand shares.
According to the firm’s profile on Linkedin, North Run Capital “is a privately owned hedge fund sponsor. The firm invests in the public equity and hedging markets of the United States. It is also known as North Run Advisors, LLC. The firm is based in Boston, Massachusetts.”
According to Yahoo! Finance, CSG Systems International, Inc. “is engaged in providing outsourced customer care and billing solutions to the North American cable and direct broadcast satellite (DBS) markets. Its solutions help service providers manage the customer experience from acquisition through the billing of their customers. Its business was focused on the North American market. The Company is a provider of Business Support Systems (BSS) solutions. On November 30, 2010, CSG completed its acquisition of United Kingdom-based Intec Telecom Systems PLC (Intec). Intec is a global Business Support Systems (BSS) company for retail billing, mediation, and wholesale business management. During the year ended December 31, 2010, the Company completed the transition of its data processing and related computer services from First Data Corporation (FDC) to Infocrossing LLC (Infocrossing).”