Is Globant SA (GLOB) A Good Stock To Buy?

As one would reasonably expect, some big names were leading the bulls’ herd. John Overdeck and David Siegel’s Two Sigma Advisors created the biggest position in Globant SA (NYSE:GLOB). According to its latest 13F filing, the fund had $3 million invested in the company at the end of the quarter. Marshall Wace LLP also initiated a $0.8 million position during the quarter. The only other fund with a brand new GLOB position is Paul Tudor Jones’ Tudor Investment Corp.

Let’s check out hedge fund activity in other stocks similar to Globant SA (NYSE:GLOB). We will take a look at Nationstar Mortgage Holdings Inc (NYSE:NSM), BlackRock Credit All Inc Trust IV (NYSE:BTZ), DineEquity Inc (NYSE:DIN), and Mantech International Corp (NASDAQ:MANT). This group of stocks’ market values resemble GLOB’s market value.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $83 million. That figure was $55 million in GLOB’s case. DineEquity Inc (NYSE:DIN) is the most popular stock in this table. On the other hand BlackRock Credit All Inc Trust IV (NYSE:BTZ) is the least popular one with only 3 bullish hedge fund positions. Globant SA (NYSE:GLOB) 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 DIN might be a better candidate to consider taking a long position in.

Disclosure: None