Hedge Funds Remain Cautious When It Comes To Tessera Technologies, Inc. (TSRA)

As one would reasonably expect, specific money managers have jumped into Tessera Technologies, Inc. (NASDAQ:TSRA) headfirst. Ionic Capital Management, managed by Bart Baum, created the largest position in Tessera Technologies, Inc. (NASDAQ:TSRA). Ionic Capital Management had $2.4 million invested in the company at the end of the quarter. Steve Cohen’s Point72 Asset Management also initiated a $1 million position during the quarter. The other funds with new positions in the stock are Mike Vranos’ Ellington, Frank Slattery’s Symmetry Peak Management, and Ken Griffin’s Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Tessera Technologies, Inc. (NASDAQ:TSRA) but similarly valued. We will take a look at Chemours Co (NYSE:CC), Houlihan Lokey Inc (NYSE:HLI), GoPro Inc (NASDAQ:GPRO), and Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI). All of these stocks’ market caps match TSRA’s market cap.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $285 million. That figure was $302 million in TSRA’s case. Chemours Co (NYSE:CC) is the most popular stock in this table. On the other hand Houlihan Lokey Inc (NYSE:HLI) is the least popular one with only 10 bullish hedge fund positions. Tessera Technologies, Inc. (NASDAQ:TSRA) 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 CC might be a better candidate to consider a long position in.

Disclosure: None