Nice Ltd (ADR) (NICE) Hedge Funds Are Snapping Up

As one would reasonably expect, key hedge funds have been driving this bullishness. Mike Vranos’ Ellington assembled the largest position in Nice Ltd (ADR) (NASDAQ:NICE). Ellington had $0.8 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also initiated a $0.2 million position during the quarter. The only other fund with a brand new NICE position is Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Nice Systems Ltd (ADR) (NASDAQ:NICE) but similarly valued. These stocks are Hawaiian Holdings, Inc. (NASDAQ:HA), Cree, Inc. (NASDAQ:CREE), F.N.B. Corp (NYSE:FNB), and Zynga Inc (NASDAQ:ZNGA). All of these stocks’ market caps resemble NICE’s market cap.

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $229 million. That figure was $170 million in NICE’s case. Zynga Inc (NASDAQ:ZNGA) is the most popular stock in this table. On the other hand Cree, Inc. (NASDAQ:CREE) is the least popular one with only 12 bullish hedge fund positions. Nice Ltd (ADR) (NASDAQ:NICE) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ZNGA might be a better candidate to consider taking a long position in.

Disclosure: None