Is Cresud S.A.C.I.F. y A. (ADR) (CRESY) a Good Stock to Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually said goodbye to their positions entirely. It’s worth mentioning that Renaissance Technologies, one of the largest hedge funds in the world said goodbye to the largest position of all the hedgies tracked by Insider Monkey, worth about $1.7 million in stock. Murray Stahl’s fund, Horizon Asset Management, also dropped its stock, about $0.2 million worth.

Let’s now review hedge fund activity in other stocks similar to Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY). We will take a look at LGI Homes Inc (NASDAQ:LGIH), Orthofix International NV (NASDAQ:OFIX), PHH Corporation (NYSE:PHH), and Re/Max Holdings Inc (NYSE:RMAX). This group of stocks’ market caps resemble CRESY’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $146 million, versus $86 million in CRESY’s case. Orthofix International NV (NASDAQ:OFIX) is the most popular stock in this table with 23 funds holding shares. On the other hand Re/Max Holdings Inc (NYSE:RMAX) is the least popular one with only four bullish hedge fund positions. Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Orthofix International NV (NASDAQ:OFIX) might be a better candidate to consider taking a long position in.

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