IPO Madness 2013: Round 2 Recap And Final 4 Preview

by: Renaissance Capital IPO Research

With many of IPOs producing slam-dunk returns in 2013, Renaissance Capital would like to present the inaugural IPO Madness. To qualify, a company had to go public in 2013 and complete its listing by March 22. Whichever stock has the greater weekly return will survive to fight in another round until there is only one IPO left standing. We will publish recaps and previews of the matchups each week, so make sure to check out how your favorite IPOs do throughout the tournament. Check out the Round Two recaps and the Final Four match-ups below.

  • View bracket, first-round match-up previews, and team capsules here.
  • View first-round match-up recaps and second-round previews here.

NYSE Region

Equities-focused investment manager Artisan Partners Asset Management (NYSE:APAM) advanced to the Final Four by defeating TRI Pointe Homes (NYSE:TPH) in a tight match-up in a tough week for stock returns. Artisan Partners pulled off the victory after its price fell 3.7% and TRI Pointe Homes' price fell 3.8%. TRI Pointe Homes is up 14.1% since its January IPO.

Private Equity Region

Thomas H. Lee-backed conferencing and call center West Corporation (NASDAQ:WSTC) defeated Madison Dearborn-backed wood products manufacturer Boise Cascade Company (NYSE:BCC) in a lopsided match-up after its price went up 5.8% last week -- the only positive return among the eight remaining companies. Boise Cascade fell 9.2% and, despite being the worst performer of the week, still has the fourth-highest IPO return of 2013 (46.8%).

Nasdaq Region

Cardiovascular testing provider LipoScience (NASDAQ:LPDX) came up short against 3D printing machine provider ExOne (NASDAQ:XONE) in a battle to advance to the Final Four. ExOne edged out LipoScience, despite seeing its price decline 8.4%. ExOne still remains the best-performing IPO of 2013 with an overall return of 70.4%. LipoScience is up 6.4% since its IPO.

Venture Capital Region

Revenue management software provider Model N (NYSE:MODN) beat online money transfer service provider Xoom (NASDAQ:XOOM) to advance to the Final Four. Model N (-2.0%) managed to have the second-best return last week in what was a difficult week for most of the remaining companies. Xoom, down 8.8% last week, is up 30.1% since its IPO.

Final Four Match-Ups:

  1. NYSE Region Champion: No. 3, Artisan Partners Asset Management -- 26.6% return since IPO vs. private
  2. Equity Region Champion: No. 4, West Corporation -- 1.5% return since IPO
  3. Nasdaq Region Champion: No. 2, ExOne -- 70.4% return since IPO vs. venture capital region
  4. Champion: No. 1, Model N -- 25.3% return since IPO