While the market driven by short-term sentiment influenced by uncertainty regarding the future of the interest rate environment in the US, the low commodity prices and the economic turmoil in China, many smart money investors are keeping their optimism regarding the current bull run, while still hedging many of their long positions. However, as we know, big investors usually buy stocks with strong fundamentals, which is why we believe we can profit from imitating them. In this article, we are going to take a look at the smart money sentiment surrounding Credicorp Ltd. (USA) (NYSE:BAP).
Is Credicorp Ltd. (USA) a buy, sell, or hold? Investors who are in the know are getting less bullish. The number of long hedge fund positions decreased by 4 recently. At the end of this article we will also compare BAP to other stocks including Wyndham Worldwide Corporation (NYSE:WYN), PVH Corp (NYSE:PVH), and L-3 Communications Holdings, Inc. (NYSE:LLL) to get a better sense of its popularity.
In the financial world there are plenty of gauges stock traders have at their disposal to size up publicly traded companies. A pair of the most under-the-radar gauges are hedge fund and insider trading interest. Our experts have shown that, historically, those who follow the top picks of the best money managers can outclass their index-focused peers by a significant margin (see the details here).
Now, let’s go over the key action regarding Credicorp Ltd. (USA) (NYSE:BAP).
How have hedgies been trading Credicorp Ltd. (USA) (NYSE:BAP)?
At Q3’s end, a total of 18 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -18% from one quarter earlier. With the smart money’s capital changing hands, there exists an “upper tier” of key hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Ken Fisher’s Fisher Asset Management has the number one position in Credicorp Ltd. (USA) (NYSE:BAP), worth close to $120 million, corresponding to 0.3% of its total 13F portfolio. On Fisher Asset Management’s heels is Discovery Capital Management, led by Rob Citrone, holding a $44.5 million position; 0.5% of its 13F portfolio is allocated to the company. Remaining hedge funds and institutional investors that are bullish comprise Jim Simons’s Renaissance Technologies, J Kevin Kenny Jr’s Emerging Sovereign Group and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.