How Allot Communications Ltd. (ALLT) Stacks Up Against Its Peers

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Due to the fact that Allot Communications Ltd. (NASDAQ:ALLT) has faced declining sentiment from the entirety of the hedge funds we track, it’s safe to say that there is a sect of money managers who were dropping their positions entirely last quarter. At the top of the heap, Peter Muller’s PDT Partners cut the largest stake of all the investors watched by Insider Monkey, totaling close to $0.1 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund sold off about $0.1 million worth of shares also.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Allot Communications Ltd. (NASDAQ:ALLT) but similarly valued. These stocks are Northrim BanCorp, Inc. (NASDAQ:NRIM), Owens Realty Mortgage Inc (NYSEMKT:ORM), Rightside Group Ltd (NASDAQ:NAME), and AcelRx Pharmaceuticals Inc (NASDAQ:ACRX). This group of stocks’ market caps resemble ALLT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NRIM 6 22505 -1
ORM 4 16238 0
NAME 10 23261 4
ACRX 6 28945 -3

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $23 million. That figure was also $23 million in ALLT’s case. Rightside Group Ltd (NASDAQ:NAME) is the most popular stock in this table. On the other hand Owens Realty Mortgage Inc (NYSEMKT:ORM) is the least popular one with only 4 bullish hedge fund positions. Allot Communications Ltd. (NASDAQ:ALLT) 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 NAME might be a better candidate to consider taking a long position in.

Disclosure: None

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