Should You Buy Caesarstone Sdot-Yam Ltd (CSTE)?

As aggregate interest increased, key hedge funds have been driving this bullishness. Millennium Management initiated a $10.5 million position during the quarter. The other funds with brand new Caesarstone Sdot-Yam Ltd (NASDAQ:CSTE) positions are Peter Muller’s PDT Partners, Renaissance Technologies, and Sander Gerber’s Hudson Bay Capital Management.

Let’s check out hedge fund activity in other stocks similar to Caesarstone Sdot-Yam Ltd (NASDAQ:CSTE). These stocks are Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB), Trex Company, Inc. (NYSE:TREX), Amkor Technology, Inc. (NASDAQ:AMKR), and Opus Bank (NASDAQ:OPB). All of these stocks’ market caps resemble Caesarstone Sdot-Yam Ltd (NASDAQ:CSTE)’s market cap.

As you can see, these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $208 million. That figure was $101 million in Caesarstone Sdot-Yam Ltd (NASDAQ:CSTE)’s case. Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) is the most popular stock in this table. On the other hand, Opus Bank (NASDAQ:OPB) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks, Caesarstone Sdot-Yam Ltd (NASDAQ:CSTE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.