Hedge Funds Are Dumping Agrium Inc. (USA) (AGU)

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that said goodbye to their entire stakes in the stock during the third quarter. It’s worth mentioning that Joel Greenblatt’s Gotham Asset Management said goodbye to the biggest position of the 700 funds followed by Insider Monkey, worth about $22.6 million in stock, and Stephen J. Errico’s Locust Wood Capital Advisers was right behind this move, as the fund dropped about $9.7 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to Agrium Inc. (USA) (NYSE:AGU). These stocks are Citrix Systems, Inc. (NASDAQ:CTXS), Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX), Cincinnati Financial Corporation (NASDAQ:CINF), and Ultrapar Participacoes SA (ADR) (NYSE:UGP). This group of stocks’ market valuations are similar to AGU’s market valuation.

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $415 million. That figure was $226 million in AGU’s case. Citrix Systems, Inc. (NASDAQ:CTXS) is the most popular stock in this table. On the other hand Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX) is the least popular one with only 9 bullish hedge fund positions. Agrium Inc. (USA) (NYSE:AGU) 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 CTXS might be a better candidate to consider taking a long position in.

Disclosure: None