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Is Cousins Properties Inc (CUZ) A Good Stock To Buy?

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Concerns over a shift in Fed’s easy monetary policy have hit several hedge funds hard during the third quarter. A number of sectors are in correction territory. More importantly, Russell 2000 ETF (IWM) underperformed the larger S&P 500 ETF (SPY) by more than 14 percentage points between June 25, 2015 and October 30, 2015. Hedge funds and institutional investors tracked by Insider Monkey usually invest a disproportionate amount of their portfolios in smaller cap stocks. We have been receiving indications that hedge funds were paring back their overall exposure and this is one of the factors behind the recent movements in major indices. In this article, we will take a closer look at hedge fund sentiment towards Cousins Properties Inc (NYSE:CUZ).

Cousins Properties Inc (NYSE:CUZ) was in 17 hedge funds’ portfolios at the end of September. CUZ investors should be aware of an increase in hedge fund interest recently. There were 16 hedge funds in our database with CUZ holdings at the end of the previous quarter. At the end of this article we will also compare CUZ to other stocks including Moog Inc (NYSE:MOG), TerraForm Power Inc (NASDAQ:TERP), and Cabot Corp (NYSE:CBT) to get a better sense of its popularity.

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To the average investor there are numerous signals stock traders put to use to evaluate publicly traded companies. Some of the most innovative signals are hedge fund and insider trading moves. We have shown that, historically, those who follow the top picks of the elite hedge fund managers can outpace the S&P 500 by a very impressive amount (see the details here).

Now, let’s take a glance at the recent action encompassing Cousins Properties Inc (NYSE:CUZ).

What does the smart money think about Cousins Properties Inc (NYSE:CUZ)?

At Q3’s end, a total of 17 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 6% from the previous quarter. With hedgies’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes meaningfully (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Neil Chriss’ Hutchin Hill Capital has the most valuable position in Cousins Properties Inc (NYSE:CUZ), worth close to $30.9 million, comprising 1.2% of its total 13F portfolio. The second largest stake is held by Millennium Management, led by Israel Englander, holding a $25.6 million position; less than 0.1% of its 13F portfolio is allocated to the company. Other hedge funds and institutional investors with similar optimism encompass Ken Griffin’s Citadel Investment Group, Jim Simons’ Renaissance Technologies and Cliff Asness’ AQR Capital Management.

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