Insider Monkey has processed numerous 13F filings of hedge funds and successful investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds’ and successful investors’ positions as of the end of the first quarter. You can find write-ups about an individual hedge fund’s trades on numerous financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of Telaria, Inc. (NYSE:TLRA) based on that data.
Is Telaria, Inc. (NYSE:TLRA) going to take off soon? The smart money is taking an optimistic view. The number of long hedge fund positions improved by 5 lately. Our calculations also showed that tlra isn’t among the 30 most popular stocks among hedge funds. TLRA was in 13 hedge funds’ portfolios at the end of the first quarter of 2019. There were 8 hedge funds in our database with TLRA positions at the end of the previous quarter.
In today’s marketplace there are numerous formulas shareholders have at their disposal to analyze publicly traded companies. A couple of the most useful formulas are hedge fund and insider trading activity. We have shown that, historically, those who follow the top picks of the best hedge fund managers can outperform the broader indices by a significant margin (see the details here).
We’re going to take a glance at the new hedge fund action encompassing Telaria, Inc. (NYSE:TLRA).
How have hedgies been trading Telaria, Inc. (NYSE:TLRA)?
At the end of the first quarter, a total of 13 of the hedge funds tracked by Insider Monkey were long this stock, a change of 63% from the previous quarter. The graph below displays the number of hedge funds with bullish position in TLRA over the last 15 quarters. So, let’s find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Among these funds, Stone House Capital held the most valuable stake in Telaria, Inc. (NYSE:TLRA), which was worth $13.3 million at the end of the first quarter. On the second spot was Royce & Associates which amassed $12.2 million worth of shares. Moreover, Cannell Capital, Renaissance Technologies, and Driehaus Capital were also bullish on Telaria, Inc. (NYSE:TLRA), allocating a large percentage of their portfolios to this stock.
As one would reasonably expect, key money managers were leading the bulls’ herd. Stone House Capital, managed by Mark Cohen, assembled the largest position in Telaria, Inc. (NYSE:TLRA). Stone House Capital had $13.3 million invested in the company at the end of the quarter. Richard Driehaus’s Driehaus Capital also made a $10.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Ravee Mehta’s Nishkama Capital.
Let’s also examine hedge fund activity in other stocks similar to Telaria, Inc. (NYSE:TLRA). These stocks are Kandi Technologies Group, Inc. (NASDAQ:KNDI), Silicom Ltd. (NASDAQ:SILC), Lumber Liquidators Holdings Inc (NYSE:LL), and Regional Management Corp (NYSE:RM). This group of stocks’ market values match TLRA’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| KNDI | 3 | 2803 | 2 |
| SILC | 8 | 8347 | 0 |
| LL | 8 | 20189 | 0 |
| RM | 13 | 75137 | 1 |
| Average | 8 | 26619 | 0.75 |
View table here if you experience formatting issues.
As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $27 million. That figure was $69 million in TLRA’s case. Regional Management Corp (NYSE:RM) is the most popular stock in this table. On the other hand Kandi Technologies Group, Inc. (NASDAQ:KNDI) is the least popular one with only 3 bullish hedge fund positions. Telaria, Inc. (NYSE:TLRA) is not the most popular stock in this group but hedge fund interest is still above average. Our calculations showed that top 20 most popular stocks among hedge funds returned 6.2% in Q2 through June 19th and outperformed the S&P 500 ETF (SPY) by nearly 3 percentage points. Hedge funds were also right about betting on TLRA as the stock returned 27.9% during the same period and outperformed the market by an even larger margin. Hedge funds were rewarded for their relative bullishness.
Disclosure: None. This article was originally published at Insider Monkey.
