Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

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

 

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...