Lyon Street Capital Is Extremely Bullish on These Five Stocks

#3 Grand Canyon Education Inc (NASDAQ:LOPE)

Shares held (as of September 30): 181,830

Total Value (as of September 30): $6.91 million

Percent of Portfolio (as of September 30): 5.01%

Lyon Street acquired nearly 12,000 additional shares of Grand Canyon Education Inc (NASDAQ:LOPE) during the July-September quarter despite the fact that the stock price of the post-secondary education provider has been trending south so far this year, with current depreciation of 17.55%. However, it has still managed to outperform the for-profit education sector and managed to beat both the top and bottom line estimates in its financial results for the third quarter. The renowned managed futures fund, Renaissance Technologies, led by Jim Simons is one of the largest stockholders of Grand Canyon Education Inc (NASDAQ:LOPE) within our database, as it owns about 1.23 million shares of the company as of the end of September.

#2 Atlas Financial Holdings Inc (NASDAQ:AFH)

Shares held (as of September 30): 416,623

Total Value (as of September 30): $7.71 million

Percent of Portfolio (as of September 30): 5.59%

Lyon Street has held a stake in the Canada-based company since the second quarter of 2014 but a major boost in the holding came during the last quarter when the fund increased its stake by 58%. In the last 12 months the stock has appreciated by more than 27%, which beats the 2.59% average gains of the insurance industry during the same time period. Although the company’s third quarter revenues of $43.12 million were 63.3% higher than for the same period last year, but they slightly missed the estimates by $0.33 million. The quarterly EPS of $0.32 were also $0.03 below the expected mark. Richard Driehaus‘ Driehaus Capital held about 237,000 shares of Atlas Financial Holdings Inc (NASDAQ:AFH) at the end of the second quarter.

#1 GTT Communications Inc (NYSE:GTT)

Shares held (as of September 30): 452,162

Total Value (as of September 30): $10.52 million

Percent of Portfolio (as of September 30): 7.63%

During the third quarter Lyon hiked its stake in GTT Communications Inc (NYSE:GTT) by a hefty 80%. So far this year the stock of the $761.51 million technology company has appreciated by nearly 62%. Drexel Hamilton recently upgraded the company to ‘Buy’ from ‘Hold’. Moreover, Cowen also initiated coverage on GTT with an ‘Outperform’ rating and a price target of $31, representing an upside of 47% to the current trading level. In mid-September GTT announced the $175 million buyout of Open Source Networks. Cannell Capital, which is managed by J. Carlo Cannell held 1.75 million shares of GTT Communications Inc (NYSE:GTT) at the end of June.

Disclosure: None