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Bank of Montreal (USA) (BMO) Downgrade Shrugged Off As Investors Take Solace in Job Cuts, Dividend Hike

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Bank of Montreal (USA) (NYSE:BMO) but similarly valued. We will take a look at Monsanto Company (NYSE:MON), Syngenta AG (ADR) (NYSE:SYT), Cognizant Technology Solutions Corp (NASDAQ:CTSH), and Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR). This group of stocks’ market values are similar to BMO’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MON 51 2450184 13
SYT 32 524358 6
CTSH 38 801492 -6
PBR 23 224726 -1

As you can see these stocks had an average of 36 hedge funds with bullish positions and the average amount invested in these stocks was $1.00 billion. That figure was $152 million in BMO’s case. Monsanto Company (NYSE:MON) is the most popular stock in this table. On the other hand Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) is the least popular one with only 23 bullish hedge fund positions. Compared to these stocks Bank of Montreal (USA) (NYSE:BMO) is even less popular than PBR. 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

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