The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards DSP Group, Inc. (NASDAQ:DSPG).
DSP Group, Inc. (NASDAQ:DSPG) was in 8 hedge funds’ portfolios at the end of September. DSP Group, Inc. (NASDAQ:DSPG) has experienced a decrease in hedge fund sentiment lately. There were 9 hedge funds in our database with DSP Group, Inc. (NASDAQ:DSPG) holdings at the end of the previous quarter. It is not much of a surprise, considering that the shares of DSP Group, Inc. (NASDAQ:DSPG) lost 11.81% value during the previous quarter. Let us find out more about hedge funds that had stakes in the company at the end of the last quarter.
One of the best ways to understand the mood of hedge funds towards any particular stock is to discuss stocks with similar market caps, and find out the hedge fund sentiment towards them. At the end of this article, we will compare DSP Group, Inc. (NASDAQ:DSPG) to other stocks, including Park City Group, Inc. (NASDAQ:PCYG), Synthetic Biologics Inc (NYSEMKT:SYN), and NTELOS Holdings Corp. (NASDAQ:NTLS) to get a better sense of its popularity.
In the 21st century investor’s toolkit, there are plenty of gauges stock traders have at their disposal to evaluate their stock investments. A couple of the less utilized gauges are hedge fund and insider trading indicators. Our researchers have shown that, historically, those who follow the top picks of the elite investment managers can trounce the market by a solid amount (see the details here).
Now, we’re going to analyze the new action encompassing DSP Group, Inc. (NASDAQ:DSPG).
Hedge fund activity in DSP Group, Inc. (NASDAQ:DSPG)
At the end of the previous quarter, a total of 8 of the hedge funds tracked by Insider Monkey were long this stock, a drop of 11% from the second quarter. With hedgies’ capital changing hands, there exists a select group of key hedge fund managers who were boosting their stakes meaningfully (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Rima Senvest Management, managed by Richard Mashaal, holds the most valuable position in DSP Group, Inc. (NASDAQ:DSPG). Rima Senvest Management has a $19.6 million position in the stock, comprising 1.4% of its 13F portfolio. The second largest stake is held by Renaissance Technologies, with a $5.5 million position; less than 0.1% of its 13F portfolio is allocated to the stock. Other members of the smart money that are bullish include Jim Roumell’s Roumell Asset Management, D E Shaw, and Israel Englander’s Millennium Management.