Is Argo Group International Holdings, Ltd. (AGII) A Good Stock To Buy?

As aggregate interest increased, some big names have been driving this bullishness. Renaissance Technologies, managed by Jim Simons, established the most valuable position in Argo Group International Holdings, Ltd. (NASDAQ:AGII). Renaissance Technologies had $1.2 million invested in the company at the end of the quarter. Chao Ku’s Nine Chapters Capital Management also made a $0.7 million investment in the stock during the quarter. The following funds were also among the new AGII investors: Matthew Tewksbury’s Stevens Capital Management and Thomas Bailard’s Bailard Inc.

Let’s go over hedge fund activity in other stocks similar to Argo Group International Holdings, Ltd. (NASDAQ:AGII). These stocks are 21Vianet Group Inc (NASDAQ:VNET), Galapagos NV (ADR) (NASDAQ:GLPG), Commercial Metals Company (NYSE:CMC), and Universal Display Corporation (NASDAQ:OLED). This group of stocks’ market caps resemble AGII’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
VNET 15 208571 -2
GLPG 11 97198 -3
CMC 20 88632 -4
OLED 14 235837 1

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $158 million. That figure was $115 million in AGII’s case. Commercial Metals Company (NYSE:CMC) is the most popular stock in this table. On the other hand Galapagos NV (ADR) (NASDAQ:GLPG) is the least popular one with only 11 bullish hedge fund positions. Argo Group International Holdings, Ltd. (NASDAQ:AGII) is among the most popular stocks in this group, making it worthy of a closer look.