Does Spok Holdings, Inc. (NASDAQ:SPOK) represent a good buying opportunity at the moment? Let’s briefly check the hedge fund sentiment towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on research activities, so it is no wonder why they tend to generate millions in profits each year. It is also true that some hedge fund players fail unconceivably on some occasions, but their stock picks have been generating superior risk-adjusted returns on average over the years.
Spok Holdings, Inc. (NASDAQ:SPOK) was in 10 hedge funds’ portfolios at the end of September. SPOK shareholders have witnessed an increase in hedge fund sentiment in recent months. There were 8 hedge funds in our database with SPOK positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Jive Software Inc (NASDAQ:JIVE), Powell Industries, Inc. (NASDAQ:POWL), and Bank Mutual Corporation (NASDAQ:BKMU) to gather more data points.
In the 21st century investor’s toolkit there are many signals shareholders put to use to analyze publicly traded companies. Two of the less known signals are hedge fund and insider trading interest. Our researchers have shown that, historically, those who follow the top picks of the best hedge fund managers can trounce the S&P 500 by a superb amount (see the details here).
Now, we’re going to take a peek at the latest action encompassing Spok Holdings, Inc. (NASDAQ:SPOK).
What have hedge funds been doing with Spok Holdings, Inc. (NASDAQ:SPOK)?
At Q3’s end, a total of 10 of the hedge funds tracked by Insider Monkey held long positions in this stock, an increase of 25% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings meaningfully (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Renaissance Technologies, managed by Jim Simons, holds the largest position in Spok Holdings, Inc. (NASDAQ:SPOK). In its latest 13F filing, the fund has reported a $28.4 million position in the stock, comprising 0.1% of its 13F portfolio. On Renaissance Technologies’s heels is Two Sigma Advisors, managed by John Overdeck and David Siegel, which holds a $0.9 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Remaining professional money managers that are bullish consist of Chuck Royce’s Royce & Associates, Israel Englander’s Millennium Management and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.