How GigPeak Inc (GIG) Compares To Its Peers

We already know that not all hedge funds are bullish on the stock and some hedge funds actually sold off their positions entirely. It’s worth mentioning that Anand Parekh’s Alyeska Investment Group sold off the largest position of the 700 funds watched by Insider Monkey, totaling an estimated $1.5 million in stock, and Paul Tudor Jones’ Tudor Investment Corp was right behind this move, as the fund cut about $1.4 million worth of shares.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as GigPeak Inc (NYSEMKT:GIG) but similarly valued. We will take a look at CAI International Inc (NYSE:CAI), A. H. Belo Corporation (NYSE:AHC), Willis Lease Finance Corporation (NASDAQ:WLFC), and Ooma Inc (NYSE:OOMA). This group of stocks’ market valuations are similar to GIG’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CAI 5 12967 -4
AHC 4 5115 1
WLFC 2 16122 0
OOMA 5 12664 1

As you can see these stocks had an average of 4 hedge funds with bullish positions and the average amount invested in these stocks was $12 million. That figure was also $12 million in GIG’s case. CAI International Inc (NYSE:CAI) is the most popular stock in this table. On the other hand Willis Lease Finance Corporation (NASDAQ:WLFC) is the least popular one with only 2 bullish hedge fund positions. Compared to these stocks GigPeak Inc (NYSEMKT:GIG) 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, though the recent fall in sentiment is worrisome and we’ll be watching the stock closely next quarter to see if it continues.

Disclosure: None