Marlborough, Mass., October 20, 2014—Lemelson Capital Management, a private investment management firm, today announced that it has taken a significant position in shares of Geospace Technologies Corp (NASDAQ:GEOS). Lemelson Capital’s investment in Geospace Technologies, which will be held in the firm’s flagship Amvona Fund, represents approximately two percent of Geospace Technologies’ outstanding shares.
Lemelson on Geospace Technologies’ growth rate
Geospace Technologies is a global leader in engineering and manufacturing in the oil and gas sector of the energy industry. “Shares of Geospace Technologies have continued to be dramatically undervalued, trading slightly above tangible book value recently, which the company has managed to grow at an impressive pace of nearly 23 percent per year over the last five years,” said Emmanuel Lemelson, Chief Investment Officer of Lemelson Capital Management.
Geospace Technologies Corp (NASDAQ:GEOS) closed at $28.01 per share on Friday. Lemelson Capital Management today placed fair value for the shares above $78.
Lemelson Capital’s portfolio holdings
Lemelson Capital Management’s Amvona Fund, managed by Emmanuel Lemelson, has garnered substantial attention for several of its high-profile long and short activist positions in publicly-traded stocks. The fund has a widely-publicized long position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND). It also currently has high-profile long positions in American Eagle Outfitters (NYSE:AEO), Apple Inc. (NASDAQ:AAPL), Kulicke and Soffa Industries Inc. (NASDAQ:KLIC) and World Wrestling Entertainment, Inc. (NYSE:WWE).
Since its 2012 inception, Lemelson Capital’s Amvona Fund has been named repeatedly as one of the world’s top-performing hedge funds. BarclayHedge, a global leader in fund performance ranking and assessment, ranked The Amvona Fund as the world’s top-performing “long bias” fund for August 2014.1 On several occasions over the past two years, The Amvona Fund also has been ranked by Barron’s as the top-performing hedge fund in the world. Since September 2012, The Amvona Fund has returned 257 percent gross and 160 percent net through August 31, 2014.
Disclosure: The Amvona Fund, LP is long shares of AEO, AAPL, GEOS, KLIC and WWE and short LGND for its clients.
About Lemelson Capital Management
Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments. The firm’s flagship fund, The Amvona Fund, has been named repeatedly one of the world’s top performing hedge funds.