As aggregate interest increased, key money managers have been driving this bullishness. Kavi Asset Management, led by Manoneet Singh, assembled the most valuable position in Everi Holdings Inc (NYSE:EVRI). Kavi Asset Management had $1.3 million invested in the company at the end of the quarter. Steve Ketchum’s Sound Point Capital also made a $1 million investment in the stock during the quarter. The other funds with new positions in the stock are Dmitry Balyasny’s Balyasny Asset Management, Ken Griffin’s Citadel Investment Group, and Chao Ku’s Nine Chapters Capital Management.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Everi Holdings Inc (NYSE:EVRI) but similarly valued. These stocks are Vectrus Inc (NYSE:VEC), Sientra Inc (NASDAQ:SIEN), RealNetworks Inc (NASDAQ:RNWK), and Orrstown Financial Services (NASDAQ:ORRF). All of these stocks’ market caps resemble EVRI’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $29 million. That figure was $47 million in EVRI’s case. Vectrus Inc (NYSE:VEC) is the most popular stock in this table. On the other hand Orrstown Financial Services (NASDAQ:ORRF) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Everi Holdings Inc (NYSE:EVRI) 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.