Grupo Financero Sntdr Mxco SAB de CV ADR (BSMX): Are Hedge Funds Right About This Stock?

Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX) was in 9 hedge funds' portfolio at the end of March. BSMX has experienced a decrease in hedge fund interest in recent months. There were 15 hedge funds in our database with BSMX positions at the end of the previous quarter.

At the moment, there are many gauges shareholders can use to track publicly traded companies. Two of the best are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top fund managers can outclass the market by a superb amount (see just how much).

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Equally as key, bullish insider trading sentiment is a second way to break down the world of equities. As the old adage goes: there are a number of motivations for a bullish insider to downsize shares of his or her company, but just one, very obvious reason why they would behave bullishly. Various empirical studies have demonstrated the useful potential of this tactic if "monkeys" know where to look (learn more here).

With all of this in mind, it's important to take a glance at the recent action surrounding Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX).

Hedge fund activity in Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX)

Heading into Q2, a total of 9 of the hedge funds we track held long positions in this stock, a change of -40% from the previous quarter. With hedge funds' sentiment swirling, there exists an "upper tier" of key hedge fund managers who were upping their holdings substantially.

Of the funds we track, Blue Ridge Capital, managed by John Griffin, holds the largest position in Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX). Blue Ridge Capital has a $211 million position in the stock, comprising 2.7% of its 13F portfolio. Sitting at the No. 2 spot is Rob Citrone of Discovery Capital Management, with a $83.2 million position; 1.1% of its 13F portfolio is allocated to the company. Remaining peers that hold long positions include D. E. Shaw's D E Shaw, Ken Griffin's Citadel Investment Group and Paul Marshall and Ian Wace's Marshall Wace LLP.

Seeing as Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX) has witnessed declining sentiment from the aggregate hedge fund industry, it's easy to see that there was a specific group of money managers that elected to cut their positions entirely in Q1. At the top of the heap, David Stemerman's Conatus Capital Management dropped the largest position of the 450+ funds we monitor, worth close to $48.7 million in stock.. Charles Clough's fund, Clough Capital Partners, also sold off its stock, about $6.5 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 6 funds in Q1.

What have insiders been doing with Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX)?

Insider purchases made by high-level executives is most useful when the company we're looking at has seen transactions within the past 180 days. Over the latest six-month time period, Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let's also review hedge fund and insider activity in other stocks similar to Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX). These stocks are Woori Finance Holdings Co., Ltd. (ADR) (NYSE:WF), Bank of Ireland (ADR) (NYSE:IRE), HDFC Bank Limited (ADR) (NYSE:HDB), Popular Inc (NASDAQ:BPOP), and CorpBanca (ADR) (NYSE:BCA). This group of stocks are the members of the foreign regional banks industry and their market caps are similar to BSMX's market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
Woori Finance Holdings Co., Ltd. (ADR) (NYSE:WF) 0 0 0
Bank of Ireland (ADR) (NYSE:IRE) 5 0 0
HDFC Bank Limited (ADR) (NYSE:HDB) 20 0 0
Popular Inc (NASDAQ:BPOP) 23 0 0
CorpBanca (ADR) (NYSE:BCA) 1 0 0

With the results exhibited by our studies, retail investors must always keep an eye on hedge fund and insider trading sentiment, and Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX) applies perfectly to this mantra.

Click here to learn why you should track hedge funds

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