What Hedge Funds Have to Say About Inteliquent Inc (IQNT)

As one would reasonably expect, key hedge funds were breaking ground themselves. Engine Capital established the most valuable position in Inteliquent Inc (NASDAQ:IQNT). Engine Capital had $17.6 million invested in the company at the end of the quarter. Mike Vranos’ Ellington also made a $0.4 million investment in the stock during the quarter. The only other fund with a new position in the stock is Paul Tudor Jones’ Tudor Investment Corp.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Inteliquent Inc (NASDAQ:IQNT) but similarly valued. These stocks are Star Gas Partners, L.P. (NYSE:SGU), Exterran Corp (NYSE:EXTN), CoBiz Financial Inc (NASDAQ:COBZ), and Student Transportation Inc (NASDAQ:STB). This group of stocks’ market values resemble IQNT’s market value.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $46 million. That figure was $83 million in IQNT’s case. Exterran Corp (NYSE:EXTN) is the most popular stock in this table. On the other hand Star Gas Partners, L.P. (NYSE:SGU) is the least popular one with only 5 bullish hedge fund positions. Inteliquent Inc (NASDAQ:IQNT) 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 EXTN might be a better candidate to consider taking a long position in.

Disclosure: None