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Nassarius Capital  

PRO Top Ideas
Top Ideas are high-conviction long or short ideas focused on market mispricings with asymmetric risk/reward profiles.
  • LivePerson: From Chat To Data Analytics, Transition Exit Upcoming
       • Apr. 1, 2014 LPSN 2 Comments

    Summary

    • Market is underestimating the potential penetration of installed base with upgraded platform LiveEngage 2.0.
    • Market is not fully appreciating LPSN’s large addressable market opportunity in shift from phone to chat.
    • Market is overlooking LPSN’s potential in data analytics by assigning a customer service like multiple.
    • Our FY14 estimated PT of $16.25 represents potential upside >35%.
  • Zygo: Overlooked, Cash-Heavy, And Ready To Rebound
       • Mar. 8, 2014 ZIGO 16 Comments

    Summary

    • Tailwinds in key markets and a positive shift in product mix benefit bottom line results.
    • Hedge fund MAK Capital One (holding ~23% of ZIGO shares) recently took over as Board chairman; an unlocking/creation of shareholder value expected soon.
    • Zero sell-side coverage of ZIGO shares has aided an inefficiency gap; any uptick in investor awareness could narrow the gap.
    • Limited downside, with 30% of MV in cash and consistent institutional support at ~1.1-1.2 tangible BV.
    • Our estimated CY2014 price target of $22 represents potential upside of 40%.
  • Emcore: Activism, Sum-Of-Parts Analysis Suggest Significant Upside
       • Feb. 25, 2014 EMKR 7 Comments
  • NeoPhotonics: Blossoming In The Need For Speed
       • Feb. 15, 2014 NPTN 4 Comments
  • RPC, Inc: Well-Positioned For Increased Completion Activity
       • Jan. 29, 2014 RES 3 Comments
  • Sigma Designs: Appealing At 2x Cash With Catalysts Impending
       • Jan. 14, 2014 SIGM 19 Comments
  • Callidus Software: Getting All Dressed Up For The Acquisition Ball
       • Dec. 24, 2013 CALD 2 Comments
  • Bravo Brio: The Little Italian Restaurant That Could
       • Nov. 19, 2013 BBRG 13 Comments
  • American Woodmark: Coming To A Kitchen Near You
       • Oct. 23, 2013 AMWD 7 Comments
  • Health Insurance Innovations: Reform Sets Stage For A 2014 Home Run
       • Jun. 26, 2013 HIIQ 27 Comments
  • Art's Way: Micro-Cap With Divestiture Opportunity
       • Jun. 14, 2013 ARTW 11 Comments