Should Your Portfolio Consider Doing the Tangoe Inc (TNGO)?

Consequently, key hedge funds have been driving this bullishness. SQN Investors assembled the largest position in Tangoe Inc (NASDAQ:TNGO). SQN Investors had $1.8 million invested in the company at the end of the quarter. Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners also initiated a $0.1 million position during the quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Tangoe Inc (NASDAQ:TNGO). These stocks are Permian Basin Royalty Trust (NYSE:PBT), Syros Pharmaceuticals Inc (NASDAQ:SYRS), Seadrill Partners LLC (NYSE:SDLP), and American Software, Inc. (NASDAQ:AMSWA). All of these stocks’ market caps match TNGO’s market cap.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $23 million. That figure was $26 million in TNGO’s case. Permian Basin Royalty Trust (NYSE:PBT) is the most popular stock in this table. On the other hand American Software, Inc. (NASDAQ:AMSWA) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Tangoe Inc (NASDAQ:TNGO) 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