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Is CBL & Associates Properties, Inc. (CBL) A Good Stock To Buy According To Hedge Funds?

Due to the fact that CBL & Associates Properties, Inc. (NYSE:CBL) has gone through bearish sentiment from the smart money, we can see that there were a few money managers who were dropping their entire stakes last quarter. It’s worth mentioning that Jim Simons’s Renaissance Technologies cut the largest stake of the “upper crust” of funds watched by Insider Monkey, worth close to $7.2 million in stock. Ken Griffin’s fund, Citadel Investment Group, also dropped its stock, about $3 million worth.

Let’s now review hedge fund activity in other stocks similar to CBL & Associates Properties, Inc. (NYSE:CBL). We will take a look at Oasis Petroleum Inc. (NYSE:OAS), Vishay Intertechnology (NYSE:VSH), GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH), and Prothena Corporation PLC (NASDAQ:PRTA). This group of stocks’ market values are similar to CBL’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OAS 33 638807 0
VSH 17 272131 3
GWPH 24 801197 7
PRTA 15 786215 1

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $625 million. That figure was $30 million in CBL’s case. Oasis Petroleum Inc. (NYSE:OAS) is the most popular stock in this table. On the other hand Prothena Corporation PLC (NASDAQ:PRTA) is the least popular one with only 15 bullish hedge fund positions. Compared to these stocks CBL & Associates Properties, Inc. (NYSE:CBL) is even less popular than PRTA. 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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