Is Credicorp Ltd. (USA) (NYSE:BAP) a good investment?
In the eyes of many market players, hedge funds are seen as bloated, old financial tools of an era lost to time. Although there are In excess of 8,000 hedge funds trading currently, this site focuses on the crème de la crème of this group, around 525 funds. It is widely held that this group controls most of all hedge funds' total assets, and by paying attention to their best investments, we've identified a few investment strategies that have historically outperformed Mr. Market. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points a year for a decade in our back tests, and since we've began to sharing our picks with our subscribers at the end of August 2012, we have outclassed the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).
Equally as useful, bullish insider trading activity is another way to look at the stock market universe. Obviously, there are many reasons for an insider to get rid of shares of his or her company, but only one, very clear reason why they would behave bullishly. Several empirical studies have demonstrated the valuable potential of this tactic if investors understand what to do (learn more here).
Thus, let's examine the recent info for Credicorp Ltd. (USA) (NYSE:BAP).
Heading into Q3, a total of 20 of the hedge funds we track were bullish in this stock, a change of 25% from one quarter earlier. With the smart money's sentiment swirling, there exists a few notable hedge fund managers who were increasing their holdings significantly.
According to our 13F database, Renaissance Technologies, managed by Jim Simons, holds the largest position in Credicorp Ltd. (USA) (NYSE:BAP). Renaissance Technologies has a $53.4 million position in the stock, comprising 0.1% of its 13F portfolio. Sitting at the No. 2 spot is Fisher Asset Management, managed by Ken Fisher, which held a $40.3 million position; 0.1% of its 13F portfolio is allocated to the stock. Some other hedge funds that are bullish include Robert B. Gillam's McKinley Capital Management, Richard Driehaus's Driehaus Capital and Peter Rathjens, Bruce Clarke and John Campbell's Arrowstreet Capital.
As industrywide interest increased, specific money managers were breaking ground themselves. Renaissance Technologies, managed by Jim Simons, created the most valuable position in Credicorp Ltd. (USA) (NYSE:BAP). Renaissance Technologies had 53.4 million invested in the company at the end of the quarter. Ken Fisher's Fisher Asset Management also initiated a $40.3 million position during the quarter. The other funds with new positions in the stock are Robert B. Gillam's McKinley Capital Management, Richard Driehaus's Driehaus Capital, and Peter Rathjens, Bruce Clarke and John Campbell's Arrowstreet Capital.
Insider buying made by high-level executives is best served when the primary stock in question has seen transactions within the past six months. Over the latest 180-day time frame, Credicorp Ltd. (USA) (NYSE:BAP) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Using the results demonstrated by our strategies, average investors must always keep one eye on hedge fund and insider trading activity, and Credicorp Ltd. (USA) (NYSE:BAP) is an important part of this process.