Here is What Hedge Funds Think About Inteliquent (IQNT)

Consequently, key money managers were leading the bulls’ herd. Driehaus Capital established the biggest position in Inteliquent (NASDAQ:IQNT). Driehaus Capital had $8.9 million invested in the company at the end of the quarter. Brett Hendrickson’s Nokomis Capital also initiated a $7.3 million position during the quarter. The other funds with new positions in the stock are Scott Fine and Peter Richards’s Empire Capital Management and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

Let’s also examine hedge fund activity in other stocks similar to Inteliquent (NASDAQ:IQNT). These stocks are MaxLinear, Inc. (NYSE:MXL), Quotient Technology Inc (NYSE:COUP), Heartland Financial USA Inc (NASDAQ:HTLF), and P.H. Glatfelter Company (NYSE:GLT). This group of stocks’ market caps resemble IQNT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MXL 24 177198 1
COUP 7 32237 -4
HTLF 8 11236 -1
GLT 12 11318 3

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $58 million, compared $66 million in IQNT’s case. MaxLinear, Inc. (NYSE:MXL) is the most popular stock in this table. On the other hand Quotient Technology Inc (NYSE:COUP) is the least popular one with only 7 bullish hedge fund positions. Inteliquent (NASDAQ:IQNT) 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 MXL might be a better candidate to consider a long position.