Is the Hedge Fund Sentiment Towards Xura Cooling Down?

Hedge funds from our database were bullish on Comverse during the latest round of 13F filings, though it’s not clear where the sentiment has headed after the company acquired Acision and became Xura Inc (NASDAQ:MESG). At the end of June, 16 funds reported holding $89.80 million worth of stock, representing 20.40% of the company, as compared to 12 funds with stakes valued at $64.50 million in aggregate a quarter earlier. Cove Street was the largest shareholder, followed by Matthew Drapkin and Steven R. Becker’s Becker Drapkin Management, which reported ownership of 1.45 million shares. However, while the position amassed only 3.70% of Cove Street’s equity portfolio, Becker Drapkin’s stake in Comverse represented over a quarter of its portfolio. On the third spot was Nokomis Capital, led by Brett Hendrickson, which trimmed its stake by 11% to 437,909 shares. Other bullish investors included Jim Simons and Mark Kingdon.

Disclosure: None