Is Interactive Brokers Group, Inc. (IBKR) A Good Stock To Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cut their positions entirely. At the top of the heap, Matt Sirovich and Jeremy Mindich’s Scopia Capital cut the biggest position of the 700 funds watched by Insider Monkey, comprising an estimated $99.3 million in stock. Scott Phillips’ fund, Latimer Light Capital, also dumped its stock, about $22 million worth.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Interactive Brokers Group, Inc. (NASDAQ:IBKR) but similarly valued. We will take a look at Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), SK Telecom Co., Ltd. (ADR) (NYSE:SKM), Credicorp Ltd. (USA) (NYSE:BAP), and Ball Corporation (NYSE:BLL). This group of stocks’ market valuations match IBKR’s market valuation.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $933 million. That figure was $589 million in IBKR’s case. Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) is the most popular stock in this table. On the other hand SK Telecom Co., Ltd. (ADR) (NYSE:SKM) is the least popular one with only 12 bullish hedge fund positions. Interactive Brokers Group, Inc. (NASDAQ:IBKR) 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 FCX might be a better candidate to consider taking a long position in.

Disclosure: None