Do Hedge Funds Like Gol Linhas Aereas Inteligentes SA (ADR) (GOL) More Than Its Peers?

As one would reasonably expect, some big names were breaking ground themselves. Millennium Management initiated the most outsized position in Gol Linhas Aereas Inteligentes SA (ADR) (NYSE:GOL). Millennium Management had $0.8 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.2 million position during the quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Gol Linhas Aereas Inteligentes SA (ADR) (NYSE:GOL) but similarly valued. We will take a look at Wynn Resorts, Limited (NASDAQ:WYNN), Cheniere Energy Partners LP (NYSEAMEX:CQP), Iron Mountain Incorporated (NYSE:IRM), and CNH Industrial NV (NYSE:CNHI). This group of stocks’ market values are closest to GOL’s market value.

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $697 million. That figure was $24 million in GOL’s case. Wynn Resorts, Limited (NASDAQ:WYNN) is the most popular stock in this table. On the other hand Cheniere Energy Partners LP (NYSEAMEX:CQP) is the least popular one with only 5 bullish hedge fund positions. Gol Linhas Aereas Inteligentes SA (ADR) (NYSE:GOL) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard WYNN might be a better candidate to consider taking a long position in.

Disclosure: None