Hedge Funds Remain Cautiously Optimistic About EVINE Live Inc (EVLV)

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As aggregate interest increased, key money managers have jumped into EVINE Live Inc (NASDAQ:EVLV) headfirst. Cove Street Capital assembled the biggest position in EVINE Live Inc (NASDAQ:EVLV), having $15.2 million invested in the company at the end of the quarter. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors also initiated a small position during the quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as EVINE Live Inc (NASDAQ:EVLV) but similarly valued. These stocks are Derma Sciences Inc (NASDAQ:DSCI), Anthera Pharmaceuticals Inc (NASDAQ:ANTH), Virtus Total Return Fund (NYSE:DCA), and Anavex Life Sciences Corp. (NASDAQ:AVXL). This group of stocks’ market caps are closest to EVLV’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
DSCI 9 36193 -1
ANTH 9 14393 0
DCA 4 25711 0
AVXL 4 722 2

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 $19 million. That figure was $29 million in EVLV’s case. Derma Sciences Inc (NASDAQ:DSCI) is the most popular stock in this table. On the other hand Virtus Total Return Fund (NYSE:DCA) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks EVINE Live Inc (NASDAQ:EVLV) 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

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