Is America Movil SAB de CV (ADR) (AMX) A Good Stock To Buy?

Since America Movil SAB de CV (ADR) (NYSE:AMX) has faced a decline in interest from hedge fund managers, it’s easy to see that there lies a certain “tier” of funds who sold off their entire stakes by the end of the third quarter. It’s worth mentioning that Israel Englander’s Millennium Management said goodbye to the largest investment of all the investors followed by Insider Monkey, comprising an estimated $5.9 million in stock, and Dmitry Balyasny’s Balyasny Asset Management was right behind this move, as the fund cut about $2.8 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to America Movil SAB de CV (ADR) (NYSE:AMX). We will take a look at Carnival plc (ADR) (NYSE:CUK), McKesson Corporation (NYSE:MCK), Carnival Corporation (NYSE:CCL), and eBay Inc (NASDAQ:EBAY). All of these stocks’ market caps are closest to AMX’s market cap.

As you can see these stocks had an average of 37.25 hedge funds with bullish positions and the average amount invested in these stocks was $1489 million. That figure was $269 million in AMX’s case. McKesson Corporation (NYSE:MCK) is the most popular stock in this table. On the other hand Carnival plc (ADR) (NYSE:CUK) is the least popular one with only 10 bullish hedge fund positions. America Movil SAB de CV (ADR) (NYSE:AMX) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MCK might be a better candidate to consider taking a long position in.

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