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Do Hedge Funds Love Xactly Corp (XTLY)?

With a general bullishness amongst the heavyweights, key hedge funds have jumped into Xactly Corp (NYSE:XTLY) headfirst. George McCabe’s Portolan Capital Management initiated the most valuable position in Xactly Corp (NYSE:XTLY). Josh Goldberg’s G2 Investment Partners Management also made a $1 million investment in the stock during the quarter. The other funds with brand new XTLY positions are Cliff Asness’s AQR Capital Management, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s go over hedge fund activity in other stocks similar to Xactly Corp (NYSE:XTLY). We will take a look at Collegium Pharmaceutical Inc (NASDAQ:COLL), 21Vianet Group Inc (NASDAQ:VNET), Del Taco Restaurants Inc (NASDAQ:TACO), and KEYW Holding Corp. (NASDAQ:KEYW). All of these stocks’ market caps are closest to XTLY’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
COLL 10 140212 -2
VNET 9 5413 -2
TACO 15 79942 1
KEYW 9 12250 4

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $59 million. That figure was $38 million in XTLY’s case. Del Taco Restaurants Inc (NASDAQ:TACO) is the most popular stock in this table. On the other hand 21Vianet Group Inc (NASDAQ:VNET) is the least popular one with only 9 bullish hedge fund positions. Xactly Corp (NYSE:XTLY) 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 TACO might be a better candidate to consider taking a long position in.

Disclosure: none.

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