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Activist Glenn Welling’s Top New Picks: Group Inc (WWWW), Benchmark Electronics, Inc. (BHE), Boulder Brands Inc (BDBD)

As of March 31 Welling’s fund held a total of 232,699 shares of Benchmark Electronics, Inc. (NYSE:BHE) valued at $5.59 million. That acquisition put the firm among the company’s top shareholders. The company recently released its performance results for the first quarter, posting $0.34 in earnings per share, which was $0.02 above analysts’ consensus estimate of $0.32. However, Benchmark Electronics, Inc. (NYSE:BHE) reported total revenue of $620.90 million, falling short of analysts’ estimates of $633.75. After downgrading the stock to a “Sell” rating from a “Hold” on May 1st, analysts at Zacks’ have upgraded the stock back to a “Hold” in a note released on May 26th. On the other side, analysts at Citigroup Inc. gave the company a “Sell” rating, though they raised its price target to $24.00 from $21.00. Benchmark Electronics, Inc. (NYSE:BHE) provides integrated electronics manufacturing services to Original Equipment Manufacturers (OEMs) drawn from diverse industries. Other notable funds with positions in the company include Royce & Associates and Clint Carlson’s Carlson Capital, which increased its stake in the company by 15% to 720,995 shares during the first quarter.

The third and final company among Engaged Capital’s top new picks is Boulder Brands Inc (NASDAQ:BDBD), in which the firm now holds a total of 410,686 shares with a market value of $3.91 million. For the first quarter, the gluten-free and health and wellness products supplier posted $0.05 in earnings per share, which checked with analysts’ estimates. The company’s management also issued an update on the stock’s guidance for fiscal year 2015, estimating earnings per share guidance of $0.25-$0.29. A total of 15 hedge funds were invested in Boulder Brands Inc (NASDAQ:BDBD) on March 31, compared to 13 at the end of 2014. A couple of these are Alyeska Investment Group and Phill Gross and Robert Atchinson‘s Adage Capital Management, with Alyeska having increased its stake in Boulder Brands by over 281% during the first quarter, showing the fund’s increased confidence in the stock.

Disclosure: None

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