How Cousins Properties Inc (CUZ) Stacks Up Against Barnes Group and Puma Biotechnology

Because Cousins Properties Inc (NYSE:CUZ) has experienced bearish sentiment from the aggregate hedge fund industry, we can see that there was a specific group of money managers that slashed their positions entirely by the end of the third quarter. Interestingly, Israel Englander’s Millennium Management said goodbye to the biggest stake of the “upper crust” of funds monitored by Insider Monkey, comprising about $17.7 million in stock, and Dmitry Balyasny’s Balyasny Asset Management was right behind this move, as the fund dropped about $2.7 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Cousins Properties Inc (NYSE:CUZ) but similarly valued. These stocks are Kate Spade & Co (NYSE:KATE), Alamos Gold Inc (NYSE:AGI), Barnes Group Inc. (NYSE:B), and Puma Biotechnology Inc (NYSE:PBYI). This group of stocks’ market values are similar to CUZ’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
KATE 29 535210 -1
AGI 12 119797 -4
B 17 33534 1
PBYI 24 793828 9

As you can see these stocks had an average of 20.5 hedge funds with bullish positions and the average amount invested in these stocks was $371 million. That figure was $32 million in CUZ’s case. Kate Spade & Co (NYSE:KATE) is the most popular stock in this table. On the other hand Alamos Gold Inc (NYSE:AGI) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Cousins Properties Inc (NYSE:CUZ) is even less popular than AGI. 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.