Ellie Mae and Zillow among top stocks in 2012
Two mortgage technology companies stand among the top 30 best-performing stocks in 2012, according to the Russell 3000 index.
The Russell 3000 is up 4.97% year to date, yet the average stock in the index is up 3.98% so far in 2012, stock analysis company Seeking Alpha points out, meaning the larger stocks in the market cap weighted index are performing better than the smaller stocks.
Ellie Mae (ELLI), ballooned more than 175% year-to-date, while Zillow (Z) shot up nearly 80% in the same period. The two mortgage and housing companies are otherwise surrounded by a bevy of health care and other technology firms.
The notice is a good development for Ellie Mae, which reported net income in the first quarter of $3.6 million, reversing its $800,000 loss, the company experienced a year earlier. The growing economic and regulatory demands placed on lenders is putting the Pleasanton, Calif.-based company in a sweet spot.
Click on the list below from Seeking Alpha of the 35 best performing Russell 3000 stocks in 2012, which are all up more than 75%. There are 16 stocks in the index that are up more than 100% year to date. Arena Pharmaceuticals (ARNA) leads the pack at 220.86%, followed by Ellie Mae and Vivus (VVUS).