Irsa Inversiones y Rprsntcins SA (ADR) (IRS): Are Hedge Funds Right About This Stock?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually sold off their positions entirely. Interestingly, Millennium Management, one of the 10 largest hedge funds in the world sold off the largest stake of all the hedgies tracked by Insider Monkey, totaling close to $0.5 million in stock. Edmond M. Safra’s fund, EMS Capital, also dropped its stock, about $0.2 million worth.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Irsa Inversiones y Rprsntcins SA (ADR) (NYSE:IRS) but similarly valued. We will take a look at Analogic Corporation (NASDAQ:ALOG), McEwen Mining Inc (NYSE:MUX), NuStar GP Holdings, LLC (NYSE:NSH), and Comfort Systems USA, Inc. (NYSE:FIX). This group of stocks’ market valuations are closest to IRS’s market valuation.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $65 million. That figure was $89 million in IRS’s case. Comfort Systems USA, Inc. (NYSE:FIX) is the most popular stock in this table. On the other hand NuStar GP Holdings, LLC (NYSE:NSH) is the least popular one with only four funds holding long positions. Irsa Inversiones y Rprsntcins SA (ADR) (NYSE:IRS) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard FIX might be a better candidate to consider taking a long position in.

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