Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Is Best Buy Co., Inc. (BBY) A Good Stock To Buy?

Hedge funds run by legendary names like Nelson Peltz and David Tepper make billions of dollars a year for themselves and their super-rich accredited investors (you’ve got to have a minimum of $1 million liquid to invest in a hedge fund) by spending enormous resources on analyzing and uncovering data about small-cap stocks that the big brokerage houses don’t follow. Small caps are where they can generate significant out-performance. That’s why we pay special attention to hedge fund activity in these stocks.

Best Buy Co., Inc. (NYSE:BBY) investors should pay attention to a decrease in support from the world’s most elite money managers of late. At the end of this article we will also compare BBY to other stocks including Agrium Inc. (USA) (NYSE:AGU), Fidelity National Financial Inc (NYSE:FNF), and FleetCor Technologies, Inc. (NYSE:FLT) to get a better sense of its popularity.

Follow Best Buy Co Inc (NYSE:BBY)
Trade (NYSE:BBY) Now!

In the financial world, there are a lot of indicators market participants use to appraise stocks. A duo of the most innovative indicators are hedge fund and insider trading signals. We have shown that, historically, those who follow the top picks of the elite hedge fund managers can outclass the S&P 500 by a solid margin (see the details here).

With all of this in mind, we’re going to take a look at the recent action encompassing Best Buy Co., Inc. (NYSE:BBY).

What have hedge funds been doing with Best Buy Co., Inc. (NYSE:BBY)?

Heading into Q4, a total of 28 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -18% from the second quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of key hedge fund managers who were upping their holdings significantly (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Cliff Asness’s AQR Capital Management has the most valuable position in Best Buy Co., Inc. (NYSE:BBY), worth close to $237.5 million, corresponding to 0.5% of its total 13F portfolio. The second most bullish fund is David Harding’s Winton Capital Management, with a $154 million position; 1.2% of its 13F portfolio is allocated to the stock. Remaining peers that hold long positions contain Ken Griffin’s Citadel Investment Group, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital and William Harnisch’s Peconic Partners LLC.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.