We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of September 30. In this article we look at what those investors think of Attunity Ltd (NASDAQ:ATTU).
Attunity Ltd (NASDAQ:ATTU) was in 10 hedge funds’ portfolios at the end of September. ATTU shareholders have witnessed an increase in the hedge fund interest of late. There were 8 hedge funds in our database with ATTU positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Atlas Financial Holdings Inc (NASDAQ:AFH), Miller Industries, Inc. (NYSE:MLR), and Quotient Ltd (NASDAQ:QTNT) to gather more data points.
According to most investors, hedge funds are assumed to be unimportant, old investment vehicles of yesteryear. While there are more than an 8000 funds in operation at the moment, Our experts choose to focus on the moguls of this group, around 700 funds. It is estimated that this group of investors shepherd bulk of the hedge fund industry’s total capital, and by paying attention to their highest performing stock picks, Insider Monkey has uncovered a few investment strategies that have historically outrun Mr. Market. Insider Monkey’s small-cap hedge fund strategy exceeded the S&P 500 index by 12 percentage points a year for a decade in their back tests.
Now, we’re going to analyze the fresh action regarding Attunity Ltd (NASDAQ:ATTU).
What does the smart money think about Attunity Ltd (NASDAQ:ATTU)?
At the end of the third quarter, a total of 10 of the hedge funds tracked by Insider Monkey were long this stock, a change of 25% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were upping their stakes significantly (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Diker Management, managed by Mark N. Diker, holds the most valuable position in Attunity Ltd (NASDAQ:ATTU). Diker Management has a $13.8 million position in the stock, comprising 3% of its 13F portfolio. Sitting at the No. 2 spot is Josh Goldberg’s G2 Investment Partners Management, with a $7 million position; the fund has 2.6% of its 13F portfolio invested in the stock. Some other professional money managers with similar optimism include Phil Frohlich’s Prescott Group Capital Management, Richard Mashaal’s Rima Senvest Management and Jim Simons’ Renaissance Technologies.
Consequently, key money managers have been driving this bullishness. Whitebox Advisors, managed by Andy Redleaf, initiated the most valuable position in Attunity Ltd (NASDAQ:ATTU). Whitebox Advisors had $0.6 million invested in the company at the end of the quarter. Chao Ku’s Nine Chapters Capital Management also made a $0.2 million investment in the stock during the quarter.
Let’s now review hedge fund activity in other stocks similar to Attunity Ltd (NASDAQ:ATTU). We will take a look at Atlas Financial Holdings Inc (NASDAQ:AFH), Miller Industries, Inc. (NYSE:MLR), Quotient Ltd (NASDAQ:QTNT), and Hallmark Financial Services, Inc. (NASDAQ:HALL). This group of stocks’ market values are closest to ATTU’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| AFH | 8 | 21703 | 2 |
| MLR | 7 | 43537 | 1 |
| QTNT | 9 | 84743 | 2 |
| HALL | 4 | 20093 | 0 |
As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $43 million, compared to $36 million in ATTU’s case. Quotient Ltd (NASDAQ:QTNT) is the most popular stock in this table with nine funds reporting long positions, while Hallmark Financial Services, Inc. (NASDAQ:HALL) is the least popular one. Compared to these stocks Attunity Ltd (NASDAQ:ATTU) 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.
