Hedge Funds Are Betting On Reis Inc (REIS)

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Now, specific money managers were breaking ground themselves. Coe Capital Management, managed by Mark Coe, established the biggest position in Reis Inc (NASDAQ:REIS). Coe Capital Management had $0.8 million invested in the company at the end of the quarter. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors also initiated an $0.2 million position during the quarter. The only other fund with a new position in the stock is Peter Muller’s PDT Partners.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Reis Inc (NASDAQ:REIS) but similarly valued. These stocks are American Science & Engineering, Inc. (NASDAQ:ASEI), OMNOVA Solutions Inc. (NYSE:OMN), Oclaro, Inc. (NASDAQ:OCLR), and Tucows Inc. (USA) (NASDAQ:TCX). This group of stocks’ market caps are similar to REIS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ASEI 9 31319 -2
OMN 14 15768 2
OCLR 15 40413 2
TCX 11 41369 2

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $32 million. That figure was $32 million in REIS’s case. Oclaro, Inc. (NASDAQ:OCLR) is the most popular stock in this table. On the other hand American Science & Engineering, Inc. (NASDAQ:ASEI) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Reis Inc (NASDAQ:REIS) shares the same popularity as ASEI. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock.

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