Here Is What Hedge Funds Think About Banco Bilbao Vizcaya Argentaria SA (ADR) (BBVA)

As aggregate interest increased, some big names were breaking ground themselves. Marshall Wace LLP established the most outsized position in Banco Bilbao Vizcaya Argentaria SA (ADR) (NYSE:BBVA). Ellington also made a $0.1 million investment in the stock during the quarter. The only other fund with a brand new BBVA position is Renaissance Technologies.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Banco Bilbao Vizcaya Argentaria SA (ADR) (NYSE:BBVA) but similarly valued. We will take a look at T MOBILE US INC (NYSE:TMUS), Becton, Dickinson and Co. (NYSE:BDX), Northrop Grumman Corporation (NYSE:NOC), and TransCanada Corporation (USA) (NYSE:TRP). This group of stocks’ market caps are similar to BBVA’s market cap.

As you can see these stocks had an average of 35 hedge funds with bullish positions and the average amount invested in these stocks was $1.40 billion. That figure was $2 million in BBVA’s case. T MOBILE US INC (NYSE:TMUS) is the most popular stock in this table. On the other hand TransCanada Corporation (USA) (NYSE:TRP) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks Banco Bilbao Vizcaya Argentaria SA (ADR) (NYSE:BBVA) is even less popular than TRP. 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