Is WL Ross Holding Corp (NXEO) A Good Stock To Buy According To Hedge Funds?

Consequently, specific money managers have jumped into WL Ross Holding Corp (NASDAQ:NXEO) headfirst. Crescent Park Management, led by Eli Cohen, created the most valuable position in WL Ross Holding Corp (NASDAQ:NXEO). Crescent Park Management had $4.6 million invested in the company at the end of the quarter. Bart Baum’s Ionic Capital Management also initiated a $3.5 million position during the quarter. The other funds with brand new NXEO positions are Israel Englander’s Millennium Management, Ken Griffin’s Citadel Investment Group, and Ari Zweiman’s 683 Capital Partners.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as WL Ross Holding Corp (NASDAQ:NXEO) but similarly valued. We will take a look at TIER REIT Inc (NYSE:TIER), Virtusa Corporation (NASDAQ:VRTU), CEVA, Inc. (NASDAQ:CEVA), and Speedway Motorsports, Inc. (NYSE:TRK). All of these stocks’ market caps are closest to NXEO’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $48 million. That figure was $202 million in NXEO’s case. CEVA, Inc. (NASDAQ:CEVA) is the most popular stock in this table. On the other hand Virtusa Corporation (NASDAQ:VRTU) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks WL Ross Holding Corp (NASDAQ:NXEO) 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.