Here is What Hedge Funds Think About Credicorp Ltd. (USA) (BAP)

Due to the fact that Credicorp Ltd. (USA) (NYSE:BAP) has experienced bearish sentiment from the aggregate hedge fund industry, it’s easy to see that there is a sect of money managers that slashed their positions entirely last quarter. Interestingly, Philippe Jabre’s Jabre Capital Partners said goodbye to the largest investment of the “upper crust” of funds followed by Insider Monkey, valued at close to $3.5 million in stock, and Michael Hintze’s CQS Cayman LP was right behind this move, as the fund dropped about $2.3 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest dropped by 4 funds last quarter.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Credicorp Ltd. (USA) (NYSE:BAP) but similarly valued. These stocks are Wyndham Worldwide Corporation (NYSE:WYN), PVH Corp (NYSE:PVH), L-3 Communications Holdings, Inc. (NYSE:LLL), and Total System Services, Inc. (NYSE:TSS). All of these stocks’ market caps are similar to BAP’s market cap.

As you can see these stocks had an average of 27.25 hedge funds with bullish positions and the average amount invested in these stocks was $684 million. That figure was $389 million in BAP’s case. PVH Corp (NYSE:PVH) is the most popular stock in this table. On the other hand L-3 Communications Holdings, Inc. (NYSE:LLL) is the least popular one with only 18 bullish hedge fund positions. Compared to these stocks Credicorp Ltd. (USA) (NYSE:BAP) is as less popular as LLL. 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.