Hedge Funds’ Activity for Numerex Corp. (NASDAQ:NMRX)
By the end of the first quarter, five of the hedge funds we track at Insider Monkey had long positions in Numerex Corp. (NASDAQ:NMRX), which was up by 25% compared to the previous quarter. There are notable hedge fund managers who are increasing their hold in this company.
According to hedge fund experts at Insider Monkey, Chuck Royce’s Royce & Associates held the most valuable position in Numerex, worth $11.1 million, which equals 0.1% of its total 13F portfolio. The aforementioned Potomac Capital Management has the second-largest holding in Numerex, worth $7.8 million, a much more sizable portion of its 13F portfolio, at 8.4%. Jim Simons’ Renaissance Technologies, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital are some of the other pronounced hedge funds having notable positions in the stock.
With insider sentiment being bullish and a major activist hedge fund investor now being bullish on Numerex Corp. (NASDAQ:NMRX) as well, and shares still down 19% year-to-date, we would recommend that now is a good time to buy into the stock.