Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Is Godaddy Inc (GDDY) A Good Stock To Buy?

Now, key money managers have been driving this bullishness. According to our database, Adage Capital Management assembled the most outsized position in Godaddy Inc (NYSE:GDDY), worth some $15.8 million at the end of the quarter. Israel Englander’s Millennium Management also initiated a $1.7 million position during the quarter. The other funds with brand new GDDY positions are Richard Driehaus’s Driehaus Capital, Drew Cupps’s Cupps Capital Management, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Godaddy Inc (NYSE:GDDY) but similarly valued. These stocks are Siliconware Precision Industries (ADR) (NASDAQ:SPIL), Team Health Holdings LLC (NYSE:TMH), Euronet Worldwide, Inc. (NASDAQ:EEFT), and Synovus Financial Corp. (NYSE:SNV). This group of stocks’ market caps resemble GDDY’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SPIL 10 14103 0
TMH 25 524520 3
EEFT 24 218404 0
SNV 21 449718 -5

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $302 million. That figure was just $130 million in GDDY’s case. Team Health Holdings LLC (NYSE:TMH) is leading the pack, whereas Siliconware Precision Industries (ADR) (NASDAQ:SPIL) is the least popular stock from this mix with only 10 bullish hedge fund positions. Godaddy Inc (NYSE:GDDY) 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 TMH might be a better candidate to consider a long position.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...