As one would reasonably expect, key hedge funds were breaking ground themselves. Okumus Fund Management, managed by Ahmet Okumus, established the most outsized position in The Rubicon Project Inc (NYSE:RUBI). Phil Frohlich’s Prescott Group Capital Management also initiated a $4.1 million position during the quarter according to the fund’s latest 13F filing. The following funds were also among the new RUBI investors: Zeke Ashton’s Centaur Capital Partners, Jim Roumell’s Roumell Asset Management, and Neil Chriss’s Hutchin Hill Capital.
Let’s now take a look at hedge fund activity in other stocks similar to The Rubicon Project Inc (NYSE:RUBI). These stocks are Coherus Biosciences Inc (NASDAQ:CHRS), Pacific Premier Bancorp, Inc. (NASDAQ:PPBI), Lydall, Inc. (NYSE:LDL), and Veeco Instruments Inc. (NASDAQ:VECO). This group of stocks’ market values resemble RUBI’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| CHRS | 19 | 120944 | 5 |
| PPBI | 10 | 28960 | -3 |
| LDL | 12 | 67062 | -1 |
| VECO | 11 | 133447 | 1 |
As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $88 million. That figure was $59 million in RUBI’s case. Coherus Biosciences Inc (NASDAQ:CHRS) is the most popular stock in this table. On the other hand Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks The Rubicon Project Inc (NYSE:RUBI) 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.
Disclosure: none.
