Is Yandex NV (YNDX) a Good Stock to Buy?

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Consequently, key hedge funds were leading the bulls’ herd. Kerr Neilson’s Platinum Asset Management created the most outsized position in Yandex NV (NASDAQ:YNDX). Platinum Asset Management had $5.9 million invested in the company at the end of the third quarter. John W. Moon’s Moon Capital also initiated a $4.8 million position between July and September. The other funds with new positions in the stock are George Hall’s Clinton Group, Ken Griffin’s Citadel Investment Group, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Let’s go over hedge fund activity in other stocks similar to Yandex NV (NASDAQ:YNDX). These stocks are Spectrum Brands Holdings, Inc. (NYSE:SPB), Crown Holdings, Inc. (NYSE:CCK), Qorvo Inc (NASDAQ:QRVO), and HD Supply Holdings Inc (NASDAQ:HDS). This group of stocks’ market valuations match YNDX’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SPB 30 615857 7
CCK 35 705808 5
QRVO 27 198381 5
HDS 40 1866259 -7

The table shows that these stocks had an average of 33 funds with bullish positions at the end of September and the average amount invested in these stocks was $847 million. That figure was $389 million in YNDX’s case. HD Supply Holdings Inc (NASDAQ:HDS) is the most popular stock in this table. On the other hand Qorvo Inc (NASDAQ:QRVO) is the least popular one with only 27 investors holding shares. Yandex NV (NASDAQ:YNDX) 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 HD Supply Holdings Inc (NASDAQ:HDS) might be a better candidate to consider a long position.

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