Lemelson Capital Management Announces Stake In Geospace Technologies

Lemelson Capital Management announced on Monday it has acquired a two percent stake in

Lemelson Capital Management made headlines recently when BarclayHedge, a global leader in fund performance ranking assessment, ranked Lemelson Capital's Amvona Fund as the world's top performing “long bias fund” for August 2014. Throughout the past two years, the Amvona Fund has received recognition from Barron's as the top-performing hedge fund in the world. Emmanuel Lemelson, manager of the Amvona Fund and frequent guest on Benzinga's #PreMarket Prep revealed in an e-mail on Monday that Geospace Technology has been added to the firm's flagship Amvona fund as shares are drastically undervalued. “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,” Emmanual wrote in his e-mail. Shares of Geospace Technologies closed at $28.01 on Friday, substantially less than the $78 fair value Emmanual believes shares are worth. Geospace Technologies is a leader in engineering and manufacturing in the oil and gas sectors. Following the purchase, Lemelson Capital owns approximately two percent of all outstanding shares of Geospace Technologies.