Do Hedge Funds Love Grupo Aeroportuario del Centro Nort (ADR) (OMAB)?

Earlier we told you that the aggregate hedge fund interest in the stock was unchanged and we view this as a negative development. Even though there weren’t any hedge funds dumping their holdings during the third quarter, there weren’t any hedge funds initiating brand new positions. This indicates that hedge funds, at the very best, perceive this stock as dead money and they haven’t identified any viable catalysts that can attract investor attention.

Let’s now take a look at hedge fund activity in other stocks similar to Grupo Aeroportuario del Centro Nort (ADR) (NASDAQ:OMAB). These stocks are Summit Materials Inc (NYSE:SUM), Chemtura Corp (NYSE:CHMT), On Assignment, Inc. (NYSE:ASGN), and Demandware Inc (NYSE:DWRE). This group of stocks’ market caps match Grupo Aeroportuario del Centro Nort (ADR) (NASDAQ:OMAB)’s market cap.

As you can see, these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $248 million. That figure was $19 million in Grupo Aeroportuario del Centro Nort (ADR) (NASDAQ:OMAB)’s case. Summit Materials Inc (NYSE:SUM) is the most popular stock in this table. On the other hand, Demandware Inc (NYSE:DWRE) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks, Grupo Aeroportuario del Centro Nort(ADR) (NASDAQ:OMAB) is even less popular than Demandware Inc (NYSE:DWRE). 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. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case, more research is warranted.