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Gramercy Property Trust Inc (GPT), CONN’S, Inc. (CONN), Procera Networks Inc (PKT), Dynegy Inc. (DYN): Hedge Funds Are Bullish On These Stocks

In CONN’S, Inc. (NASDAQ:CONN) as it has been mentioned earlier, Mr. Griffin raised its stake twice this month. Last week, the investor reported surging its stake by 1.74 million shares to 1.79 million shares representing 4.9% of the company’s stock. The stock of the consumer electronics retailer surged by 50% since the beginning of the year, amid strong sales in the last quarter of 2014, which reversed the stock’s decline in 2014, when it lost around 76%. CONN’S, Inc. (NASDAQ:CONN) still trades 11% down over the last 52 weeks, but the latest bullish moves from some funds shows some confidence around the company. Recently, Kevin Michael Ulrich and Anthony Davis’ Anchorage Advisors also reported raising its stake to 3.62 million shares from 1.37 million shares held earlier.

Next in line is Engaged Capital, which disclosed boosting its exposure to Procera Networks Inc (NASDAQ:PKT) to 1.20 million shares from 97,310 shares held previously. Following the increase, the fund led by Glenn W. Welling holds 5.8% of Procera Networks Inc (NASDAQ:PKT)’s outstanding stock. Procera is a software company that provides Intelligent Enforcement Solutions for mobile & broadband network operators that allows them to gain enhanced visibility and control of their networks. The company’s stock lost around 16% over the last 52-weeks, significantly underperforming the Software Application industry, which inched up by 0.60%. Moreover, Procera Networks Inc (NASDAQ:PKT) is targeted by an activist investor, J. Carlo Cannell of Cannell Capitalwho last month nominated four directors to be elected to the company’s board. Cannell owns 311,900 shares of the company as of the end of 2014.

 Finally there is Jonathan Barrett and Paul Segal’s Luminus Management, which raised its stake in Dynegy Inc. (NYSE:DYN) to 7.19 million shares, equal to 5.8% of the company’s stock, from 3.62 million shares held earlier. Dynegy is a $3.50 billion independent producer and seller of electric energy. Luminus Management is a long-term shareholder of Dynegy Inc. (NYSE:DYN), the stake being opened during the last quarter of 2012. However, as the stock gained around 41% in the following years, the investor cut its stake from 6.68 million shares held initially. Nevertheless, during the fourth quarter of 2014, Luminus doubled its stake in the company, after previously mostly reducing its exposure. Another shareholder of Dynegy Inc. (NYSE:DYN) is Howard Marks’ Oaktree Capital Management, which owns 10.15 million shares as of the end of the last year.

Disclosure: none

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