Is Criteo SA (ADR) (CRTO) A Good Stock To Buy?

Seeing as Criteo SA (ADR) (NASDAQ:CRTO) has faced bearish sentiment from the entirety of the hedge funds we track, it’s safe to say that there is a sect of hedgies that slashed their positions entirely in the third quarter. At the top of the heap, Eric Mindich’s Eton Park Capital cut the largest stake of all the hedgies studied by Insider Monkey, worth about $48.5 million in stock. Principal Global Investors’ fund, Columbus Circle Investors, also sold off its stock, about $29.3 million worth.

Let’s also examine hedge fund activity in other stocks similar to Criteo SA (ADR) (NASDAQ:CRTO). We will take a look at Sothebys (NYSE:BID), Dril-Quip, Inc. (NYSE:DRQ), Mellanox Technologies, Ltd. (NASDAQ:MLNX), and Och-Ziff Capital Management Group LLC (NYSE:OZM). This group of stocks’ market valuations match CRTO’s market valuation.

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 $270 million. That figure was $133 million in CRTO’s case. Mellanox Technologies, Ltd. (NASDAQ:MLNX) is the most popular stock in this table. On the other hand Och-Ziff Capital Management Group LLC (NYSE:OZM) is the least popular one with 17 bullish hedge fund positions. Compared to these stocks Criteo SA (ADR) (NASDAQ:CRTO) is even less popular than Och-Ziff Capital Management Group. 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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