Cemex SAB de CV (ADR) (CX): Smart Money Ownership Up 155% This Year

As aggregate interest increased, key money managers were breaking ground themselves. GMT Capital initiated the most outsized position in Cemex SAB de CV (ADR) (NYSE:CX). Passport Capital also initiated a $64.7 million position during the quarter. The other funds with brand new CX positions are Guy Shahar’s DSAM Partners, Jos Shaver’s Electron Capital Partners, and Jacob Rothschild’s RIT Capital Partners.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Cemex SAB de CV (ADR) (NYSE:CX) but similarly valued. We will take a look at Juniper Networks, Inc. (NYSE:JNPR), CDK Global Inc (NASDAQ:CDK), The Valspar Corporation (NYSE:VAL), and Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ). All of these stocks’ market caps match CX’s market cap.

As you can see these stocks had an average of 34 hedge funds with bullish positions and the average amount invested in these stocks was $1.20 billion. That figure was $533 million in CX’s case. CDK Global Inc (NASDAQ:CDK) is the most popular stock in this table. On the other hand The Valspar Corporation (NYSE:VAL) is the least popular one with only 26 bullish hedge fund positions. Compared to these stocks Cemex SAB de CV (ADR) (NYSE:CX) is even less popular than VAL. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news, as hedge fund ownership is rising rapidly, which we view as a positive development. We’ll be interested to see how hedge funds play the stock this quarter to give us a better idea of how to play this stock.

Disclosure: None