Is Credicorp Ltd. (USA) (BAP) Worth Owning?

Consequently, some big names were leading the bulls’ herd. Blue Mountain Capital, managed by Andrew Feldstein and Stephen Siderow, created the largest position in Credicorp Ltd. (USA) (NYSE:BAP). Blue Mountain Capital had $2.2 million invested in the company at the end of the quarter. Mike Vranos’ Ellington also made a $0.6 million investment in the stock during the quarter. The following funds were also among the new BAP investors: Alec Litowitz and Ross Laser’s Magnetar Capital, Jim Simons’ Renaissance Technologies, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s check out hedge fund activity in other stocks similar to Credicorp Ltd. (USA) (NYSE:BAP). These stocks are Parker-Hannifin Corporation (NYSE:PH), Entergy Corporation (NYSE:ETR), DENTSPLY International Inc. (NASDAQ:XRAY), and Henry Schein, Inc. (NASDAQ:HSIC). This group of stocks’ market values are closest to BAP’s market value.

As you can see these stocks had an average of 27 hedge funds with bullish positions and the average amount invested in these stocks was $969 million. That figure was $482 million in BAP’s case. DENTSPLY International Inc. (NASDAQ:XRAY) is the most popular stock in this table. On the other hand Henry Schein, Inc. (NASDAQ:HSIC) is the least popular one with only 23 bullish hedge fund positions. Compared to these stocks Credicorp Ltd. (USA) (NYSE:BAP) is even less popular than HSIC. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None