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Is Amber Road Inc (AMBR) Going to Burn These Hedge Funds?

With a general bullishness amongst the heavyweights, key hedge funds were leading the bulls’ herd. John Overdeck and David Siegel of Two Sigma Advisors assembled the most outsized position in Amber Road Inc (NYSE:AMBR). Two Sigma Advisors had $1.2 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $1.1 million position during the quarter. The other funds with new positions in the stock are Mark Broach’s Manatuck Hill Partners, Glenn Russell Dubin’s Highbridge Capital Management, and Peter Muller’s PDT Partners.

Let’s now review hedge fund activity in other stocks similar to Amber Road Inc (NYSE:AMBR). These stocks are Agilysys, Inc. (NASDAQ:AGYS), Ducommun Incorporated (NYSE:DCO), OvaScience Inc (NASDAQ:OVAS), and Bluerock Residential Growth REIT Inc (NYSEMKT:BRG). This group of stocks’ market values resemble AMBR’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AGYS 8 110578 -1
DCO 8 21663 -1
OVAS 13 48532 0
BRG 8 29099 0

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $52 million. That figure was $41 million in AMBR’s case. OvaScience Inc (NASDAQ:OVAS) is the most popular stock in this table. On the other hand Agilysys, Inc. (NASDAQ:AGYS) is the least popular one with only 8 bullish hedge fund positions. Amber Road Inc (NYSE:AMBR) 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 OVAS might be a better candidate to consider taking a long position in.

Disclosure: None


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