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Is Sodastream International Ltd (SODA) A Good Stock To Buy?

As one would reasonably expect, key hedge funds were breaking ground themselves. Balyasny Asset Management assembled the most valuable call position in Sodastream International Ltd (NASDAQ:SODA). Moreover, Balyasny Asset Management also initiated a $0.4 million position during the quarter. The only other fund with a brand new SODA position is Joseph Mathias’s Concourse Capital Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Sodastream International Ltd (NASDAQ:SODA) but similarly valued. These stocks are Cryolife Inc (NYSE:CRY), Rubicon Minerals Corp. (USA) (NYSEAMEX:RBY), Arctic Cat Inc (NASDAQ:ACAT), and Pace Holdings Corp (NASDAQ:PACE). This group of stocks’ market valuations are similar to SODA’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CRY 8 18411 0
RBY 4 27783 -3
ACAT 7 18702 -2
PACE 18 166875 18

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $58 million. That figure was $39 million in SODA’s case. Pace Holdings Corp (NASDAQ:PACE) is the most popular stock in this table. On the other hand Rubicon Minerals Corp. (USA) (NYSEAMEX:RBY) is the least popular one with only 4 bullish hedge fund positions. Sodastream International Ltd (NASDAQ:SODA) 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 PACE might be a better candidate to consider a long position.

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