Two Hedge Funds are Bullish on WidePoint Corporation (WYY) and KB Home (KBH)

In a new filing with the U.S. Securities and Exchange Commission, Nokomis Capital, led by Brett Hendrickson, disclosed that it had increased its stake in WidePoint Corporation (NYSEMKT:WYY) to over 10% of the company. In another filing, Balyasny Asset Management, led by Dmitry Balyasny, reported boosting its position in California-based home builder KB Home (NYSE:KBH).

Nokomis Capital raised its position in WidePoint Corporation (NYSEMKT:WYY) to 12.77 million shares from 8.77 million shares reported previously. The stake is passive by nature, and represents 15.5% of the company’s common stock. Balyasny Asset Management seems to be a big fan of KB Home (NYSE:KBH), as it has massively increased its passive stake to 5.04 million shares from 585,273 shares reported as of the end of the second quarter. The stake is equal to 5.48% of KB Home (NYSE:KBH)’s outstanding common stock.

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Nokomis Capital is Texas-based long/short hedge fund, which was launched by Brett Hendrickson in 2008 at the height of the recession. Nokomis Capital likes to invest mainly in technology stocks, which amassed over 50% of the fund’s equity portfolio. At the end of June, the fund’s top holdings were represented by Telenav Inc (NASDAQ:TNAV), Kirkland’s, Inc. (NASDAQ:KIRK), and Penn Virginia Corporation (NYSE:PVA).

WidePoint Corporation (NYSEMKT:WYY) is a $73.3-million market cap provider of managed mobility services, telecom lifecycle management, and cybersecurity solutions. The financial situation of the company does not look impressive as it posted a loss of about $1.4 million for the second quarter, up from a loss of around $0.7 million in the same quarter last year. However, WidePoint managed to increase its quarterly revenue by an annual 41% to $17.4 million. Shares of WidePoint Corporation (NYSEMKT:WYY) have dropped by 30.37% year-to-date. Among the largest shareholders of the company is Jeffrey Moskowitz’s Harvey Partners, which held 750,000 shares as of June 30.

Balyasny Asset Management is a $2 billion multi-strategy hedge fund that was founded by Dmitry Balyasny in 2001. The fund specializes in macro investing, and seeks unique ideas with attractive returns. Balyasny Asset Management has a diversified portfolio with large portions allocated to the technology, consumer, energy, finance, and healthcare sectors. Its top holdings, in terms of value, were represented by Facebook Inc (NASDAQ:FB), Time Warner Inc (NYSE:TWX), and eBay Inc (NASDAQ:EBAY).

KB Home (NYSE: KBH) is a homebuilding company engaged in building homes through its operating divisions under the name KB Home. The company has a market cap of approximately $1.3 billion, and pays a quarterly dividend of $0.03, which gives the stock a yield of 0.69%. For the third quarter ended August 31, KB Home (NYSE:KBH) posted net income of $23.3 million, or $0.23 a share, versus $28.4 million, or $0.28 a share in the same quarter last year. Its quarterly revenue rose to over $843 million, compared to over $589 million posted a year earlier. The company’s stock has declined by 10.84% since the beginning of the year. Last week, KB Home (NYSE:KBH) announced the opening of a private, gated community in Seminole, Florida. The community, Seminole Groves, is situated in the sought-after South Pinellas area, and will provide residents excellent access to nearby office parks, major thoroughfares, shopping plazas and local beaches, according to a statement. Ken Fisher’s Fisher Asset Management is one of the largest investors of KB Home (NYSE:KBH), holding 2.50 million shares as of June 30.

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