We already know that not all hedge funds are bullish on the stock and some hedge funds actually dropped their positions entirely. At the top of the heap, Panayotis Takis Sparaggis’ Alkeon Capital Management dropped the biggest position of the “upper crust” of funds monitored by Insider Monkey, comprising about $1.7 million in stock. Renaissance Technologies, one of the biggest hedge funds in the world, also cut its stock, about $1.2 million worth.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Immersion Corporation (NASDAQ:IMMR) but similarly valued. We will take a look at Ardmore Shipping Corp (NYSE:ASC), Mobileiron Inc (NASDAQ:MOBL), Datalink Corporation (NASDAQ:DTLK), and Tandem Diabetes Care Inc (NASDAQ:TNDM). All of these stocks’ market caps resemble IMMR’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| ASC | 10 | 12732 | 4 |
| MOBL | 10 | 10670 | 2 |
| DTLK | 13 | 25588 | 2 |
| TNDM | 12 | 34239 | 1 |
As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $21 million, which is lower than the $102 million figure in IMMR’s case. Datalink Corporation (NASDAQ:DTLK) is the most popular stock in this table, while Ardmore Shipping Corp (NYSE:ASC) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Immersion Corporation (NASDAQ:IMMR) 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
