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Have Hedge Funds Found A Hidden Gem in CEVA, Inc. (CEVA)?

With general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Kingdom Ridge Capital, led by Christopher Zepf and Brian Thonn, established the largest position in CEVA, Inc. (NASDAQ:CEVA). Kingdom Ridge Capital had $1.7 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also initiated a $1 million position during the quarter. The following funds were also among the new CEVA investors: Ken Griffin’s Citadel Investment Group, Mike Vranos’ Ellington, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

Let’s also examine hedge fund activity in other stocks similar to CEVA, Inc. (NASDAQ:CEVA). These stocks are Investment Technology Group (NYSE:ITG), EPIQ Systems, Inc. (NASDAQ:EPIQ), Nautilus, Inc. (NYSE:NLS), and Pace Holdings Corp (NASDAQ:PACE). This group of stocks’ market valuations match CEVA’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ITG 10 35632 1
EPIQ 9 115942 -2
NLS 12 50724 -9
PACE 20 235120 0

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $109 million. That figure was $112 million in CEVA’s case. Pace Holdings Corp (NASDAQ:PACE) is the most popular stock in this table. On the other hand EPIQ Systems, Inc. (NASDAQ:EPIQ) is the least popular one with only 9 bullish hedge fund positions. CEVA, Inc. (NASDAQ:CEVA) 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 PACE might be a better candidate to consider taking a long position in, though CEVA is one to watch.

Disclosure: None


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