Hedge Funds Are Betting On Rightside Group Ltd (NAME)

With a general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. Simcoe Capital Management created the most outsized position in Rightside Group Ltd (NASDAQ:NAME). According to its latest 13F filing, the fund had $0.8 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $0.4 million investment in the stock during the quarter. The other funds with brand new NAME positions are Israel Englander’s Millennium Management, Mike Vranos’ Ellington, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Rightside Group Ltd (NASDAQ:NAME) but similarly valued. These stocks are AcelRx Pharmaceuticals Inc (NASDAQ:ACRX), Westport Innovations Inc. (USA) (NASDAQ:WPRT), T2 Biosystems Inc (NASDAQ:TTOO), and Southern First Bancshares, Inc. (NASDAQ:SFST). This group of stocks’ market valuations are closest to NAME’s market valuation.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $27 million. That figure was $23 million in NAME’s case. All stocks had the same number of hedge fund long positions at the end of the quarter. Compared to these stocks Rightside Group Ltd (NASDAQ:NAME) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None