Is Bancolombia SA (ADR) (CIB) A Good Stock To Buy?

As aggregate interest increased, key money managers have jumped into Bancolombia SA (ADR) (NYSE:CIB) headfirst. Driehaus Capital, led by Richard Driehaus, initiated the largest position in Bancolombia SA (ADR) (NYSE:CIB). Driehaus Capital had $22.4 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also initiated a $6.2 million position during the quarter. The following funds were also among the new CIB investors: Ken Griffin’s Citadel Investment Group and Louis Navellier’s Navellier & Associates.

Let’s also examine hedge fund activity in other stocks similar to Bancolombia SA (ADR) (NYSE:CIB). We will take a look at Buckeye Partners, L.P. (NYSE:BPL), Expeditors International of Washington (NASDAQ:EXPD), Mobileye NV (NYSE:MBLY), and Cna Financial Corp (NYSE:CNA). All of these stocks’ market caps match CIB’s market cap.

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 $294 million. That figure was $70 million in CIB’s case. Mobileye NV (NYSE:MBLY) is the most popular stock in this table. On the other hand Buckeye Partners, L.P. (NYSE:BPL) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Bancolombia SA (ADR) (NYSE:CIB) is even less popular than BPL. 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.

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