Is Century Communities, Inc (CCS) A Good Stock To Buy According To Hedge Funds?

As industrywide interest jumped, key money managers were breaking ground themselves. Millennium Management, one of the 10 largest hedge funds in the world, established the biggest position in Century Communities, Inc (NYSE:CCS). Millennium Management had $2.3 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $0.8 million investment in the stock during the quarter.

Let’s also examine hedge fund activity in other stocks similar to Century Communities, Inc (NYSE:CCS). We will take a look at Xactly Corp (NYSE:XTLY), Collegium Pharmaceutical Inc (NASDAQ:COLL), 21Vianet Group Inc (NASDAQ:VNET), and Del Taco Restaurants Inc (NASDAQ:TACO). This group of stocks’ market values are closest to CCS’s market value.

As you can see these stocks had an average of 11.75 hedge funds with bullish positions and the average amount invested in these stocks was $66 million. That figure was $77 million in CCS’s case. Del Taco Restaurants Inc (NASDAQ:TACO) is the most popular stock in this table. On the other hand 21Vianet Group Inc (NASDAQ:VNET) is the least popular one with only 9 bullish hedge fund positions. Century Communities, Inc (NYSE:CCS) 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 TACO might be a better candidate to consider taking a long position in.

Disclosure: none