Do Hedge Funds Love Adecoagro SA (AGRO)?

In addition, there is a sect of hedgies that slashed their full holdings by the end of the third quarter. At the top of the heap, Hugh Sloane’s Sloane Robinson Investment Management dropped the largest position of the 700 funds tracked by Insider Monkey, valued at an estimated $0.4 million in stock, and Mike Vranos’s Ellington was right behind this move, as the fund cut about $0.2 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Adecoagro SA (NYSE:AGRO) but similarly valued. These stocks are Hortonworks Inc (NASDAQ:HDP), The Empire District Electric Company (NYSE:EDE), Pan American Silver Corp. (USA) (NASDAQ:PAAS), and Vitamin Shoppe Inc (NYSE:VSI). All of these stocks’ market caps match AGRO’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $121 million, compared to $367 million in AGRO’s case. Vitamin Shoppe Inc (NYSE:VSI) is the most popular stock in this table, while The Empire District Electric Company (NYSE:EDE) is the least popular one with only 8 bullish hedge fund positions. Adecoagro SA (NYSE:AGRO) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard VSI might be a better candidate to consider a long position.