Paul Singer’s Activist Tour-De-Force Sends Two Stocks Soaring Over 16%

We will now take a look at the hedge fund sentiment on the two companies so as to see whether the hedge fund industry believes in the potential of these standalone companies. To start with, there were 24 hedge funds monitored by Insider Monkey with stakes in Polycom Inc. (NASDAQ:PLCM) at the end of the second quarter, compared with 25 registered in the prior one. However, the value of their investments in the stock declined by almost 30% to $279.71 million quarter-over-quarter. It is worth mentioning that these hedge funds stockpiled 18.00% of the company’s outstanding shares on June 30. George Soros’ Soros Fund Management is by far the largest shareholder of Polycom within our database, holding a 10.65 million-share stake.

Moving on to the other company, Mitel Networks Corp (NASDAQ:MITL) is not so popular among the hedge funds monitored by our team. Even so, the number of top money managers invested in the stock increased to nine from six during the June quarter, with them amassing 5.00% of the company’s shares. Similarly, the value of the money poured into Mitel increased to $53.29 million from $48.52 million during the three-month period. Clint Carlson’s Carlson Capital was one of the hedge funds that added Mitel to its portfolio during the second quarter; the investment firm acquired a stake comprised of nearly 725,000 shares.

Disclosure: None