Here is What Hedge Funds Think About Ambarella Inc (AMBA)

Consequently, key money managers were leading the bulls’ herd. QVT Financial, led by Daniel Gold, initiated the most valuable position in Ambarella Inc (NASDAQ:AMBA). QVT Financial had $20.3 million invested in the company at the end of the third quarter. Ken Griffin’s Citadel Investment Group also initiated a $15.8 million position during the quarter. The other funds with brand new AMBA positions are Christopher Lord’s Criterion Capital, Peter Muller’s PDT Partners, and Mike Vranos’s Ellington.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Ambarella Inc (NASDAQ:AMBA) but similarly valued. We will take a look at TherapeuticsMD Inc (OTC:TXMD), GNC Holdings Inc (NYSE:GNC), Dean Foods Co (NYSE:DF), and Party City Holdco Inc (NYSE:PRTY). All of these stocks’ market caps are closest to AMBA’s market cap.

As you can see these stocks had an average of 18 funds holding shares and the average amount invested in these stocks was $90 million. That figure was $332 million in AMBA’s case. GNC Holdings Inc (NYSE:GNC) is the most popular stock in this table with 28 funds having reported long positions. On the other hand Party City Holdco Inc (NYSE:PRTY) is the least popular one with only nine bullish hedge fund positions. Ambarella Inc (NASDAQ:AMBA) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GNC Holdings Inc (NYSE:GNC) might be a better candidate to consider taking a long position in.

Disclosure: none