Is Pendrell Corporation – Class A (NASDAQ:PCO) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to work. The top picks of these firms have historically outperformed the market when we account for known risk factors, making them very valuable investment ideas.
Is Pendrell Corporation – Class A (NASDAQ:PCO) a buy right now? The best stock pickers are betting on the stock. The number of long hedge fund bets rose by 1 in recent months. At the end of this article we will also compare PCO to other stocks including Endocyte, Inc. (NASDAQ:ECYT), Genocea Biosciences Inc (NASDAQ:GNCA), and Limelight Networks, Inc. (NASDAQ:LLNW) to get a better sense of its popularity.
Keeping this in mind, let’s take a glance at the recent action encompassing Pendrell Corporation – Class A (NASDAQ:PCO).
Hedge fund activity in Pendrell Corporation – Class A (NASDAQ:PCO)
At the end of the third quarter, a total of 8 of the hedge funds tracked by Insider Monkey were long this stock, a change of 14% from the previous quarter. With the smart money’s capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their stakes considerably (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Highland Capital Management, managed by James Dondero, holds the most valuable position in Pendrell Corporation – Class A (NASDAQ:PCO). Highland Capital Management has a $32.8 million position in the stock, comprising 1% of its 13F portfolio. The second most bullish fund manager is Thomas Steyer of Farallon Capital, with a $5.6 million position; 0.1% of its 13F portfolio is allocated to the stock. Other peers that are bullish contain Israel Englander’s Millennium Management, D E Shaw and Jim Simons’s Renaissance Technologies.