Is Citrix Systems, Inc. (CTXS) A Good Stock To Buy?

Because Citrix Systems, Inc. (NASDAQ:CTXS) has witnessed declining sentiment from the entirety of the hedge funds we track, we can see that there is a sect of funds that decided to sell off their full holdings by the end of the third quarter. At the top of the heap, Jason Karp’s Tourbillon Capital Partners sold off the largest stake of the “upper crust” of funds watched by Insider Monkey, comprising close to $94.7 million in call options, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dropped about $6 million worth of options. These bearish behaviors are interesting, as aggregate hedge fund interest dropped by 7 funds by the end of the third quarter.

Let’s also examine hedge fund activity in other stocks similar to Citrix Systems, Inc. (NASDAQ:CTXS). These stocks are Grupo Financero Sntdr Mxco (NYSE:BSMX), Cincinnati Financial Corporation (NASDAQ:CINF), Ultrapar Participacoes SA (ADR) (NYSE:UGP), and Martin Marietta Materials, Inc. (NYSE:MLM). This group of stocks’ market caps are closest to CTXS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BSMX 9 24506 1
CINF 18 120933 1
UGP 10 87119 3
MLM 35 1223233 -2

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $364 million. That figure was approximately $1.43 billion in CTXS’s case. Martin Marietta Materials, Inc. (NYSE:MLM) is the most popular stock in this table. On the other hand Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Citrix Systems, Inc. (NASDAQ:CTXS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.