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Is Qiwi PLC (QIWI) a Good Stock to Buy?

Now, specific money managers were breaking ground themselves. Ellington, led by Mike Vranos, assembled the biggest position in Qiwi PLC (NASDAQ:QIWI). Ellington had $0.7 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.3 million position during the quarter. Another fund with new position in the stock is Matthew Hulsizer’s PEAK6 Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Qiwi PLC (NASDAQ:QIWI). We will take a look at Teekay Corporation (NYSE:TK), EarthLink, Inc. (NASDAQ:ELNK), Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO), and Community Trust Bancorp, Inc. (NASDAQ:CTBI). This group of stocks’ market valuations are closest to QIWI’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TK 12 69990 -3
ELNK 20 97904 -2
HIO 4 7992 -1
CTBI 4 8773 -1

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $46 million. That figure was $75 million in QIWI’s case. EarthLink, Inc. (NASDAQ:ELNK) is the most popular stock in this table. On the other hand Western Asst High Incm Opprtnty Fnd Inc. (NYSE:HIO) is the least popular one with only 4 bullish hedge fund positions. Qiwi PLC (NASDAQ:QIWI) 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 ELNK might be a better candidate to consider taking a long position in.

Disclosure: None

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