Hedge fund activity in Velti Plc (NASDAQ:VELT)
"At Q2's end, a total of 9 of the hedge funds we track held long positions in this stock, a change of 13% from the previous quarter. With hedge funds' capital changing hands, there exists a few notable hedge fund managers who were upping their stakes significantly.
Now, certain bigger names have been driving this bullishness. Park West Asset Management, managed by Peter S. Park, assembled the largest position in Velti Plc (NASDAQ:VELT). Park West Asset Management had 11.1 million invested in the company at the end of the quarter. Joseph A. Jolson's Harvest Capital Strategies also initiated a $5.1 million position during the quarter. The other funds with new positions in the stock are Jim Simons's Renaissance Technologies, Anand Parekh's Alyeska Investment Group, and John A. Levin's Levin Capital Strategies."
BTW, this report only talks about new holdings in 2Q and does not include the 7.3M shares held by Fidelity as of this week. Now, did they know that the Greek receivabes were at risk? Did they know that Mobclix was losing money and on the chopping block? Did they know that HSBC provided an additional $7.5M in financing? Did they know that expense and capital cuts of $80 million go into effect from 3Q13? It's their business to research these things unlike retail investors like us who find out only when it's spelled out to us. It's only a small part of their huge portfolios - there is no need to window dress for their clients. I reckon if they held at $1.12 on 6/30, they are holding most of it and will probably add on any good news from Ross's mouth. Speaking of which, it's about darn time he talks up the prospects, don't you think? Especially after throwing the entire house (kitchen sink, bathroom tub included) at us in the last call.
re: "I reckon if they held at $1.12 on 6/30, they are holding most of it and will probably add on any good news from Ross's mouth. Speaking of which, it's about darn time he talks up the prospects, don't you think? Especially after throwing the entire house (kitchen sink, bathroom tub included) at us in the last call."
I couldn't agree more Beta. It's definitely time they said something. Unfortunately, as I'm sure you are painfully aware of by now, they aren't the most talkative bunch. They never have been and that, IMO, is one of their biggest problems.
News, fluff or otherwise, is what drives things. The story of the potential sale of MoPub to Twitter the other day is what created the sudden interest, but for some reason this company just doesn't get it. They didn't even have a PR on this site about the news. I had to hear about it on the MM board. If I were VELT's public relations person, I would suggest to the board they issue out news every so often to keep the shareholders up to date. Getting a PR every couple of months or so isn't the way to go. Good luck Beta.