More and More Hedge Funds Are Buying Cosan Ltd (USA) (CZZ)

With a general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Adage Capital Management, managed by Phill Gross and Robert Atchinson, established the biggest position in Cosan Ltd (USA) (NYSE:CZZ). Adage Capital Management had $7.2 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also initiated a $1.4 million position during the quarter. The other funds with brand new CZZ positions are Ken Griffin’s Citadel Investment Group, Chao Ku’s Nine Chapters Capital Management, and Matthew Tewksbury’s Stevens Capital Management.

Let’s now take a look at hedge fund activity in other stocks similar to Cosan Ltd (USA) (NYSE:CZZ). These stocks are Pattern Energy Group Inc (NASDAQ:PEGI), International Bancshares Corp (NASDAQ:IBOC), Bitauto Hldg Ltd (ADR) (NYSE:BITA), and RBC Bearings Incorporated (NASDAQ:ROLL). This group of stocks’ market caps match CZZ’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $99 million. That figure was $169 million in CZZ’s case. Pattern Energy Group Inc (NASDAQ:PEGI) is the most popular stock in this table. On the other hand International Bancshares Corp (NASDAQ:IBOC) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Cosan Ltd (USA) (NYSE:CZZ) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and growing more bullish than ever, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None