Should You Avoid Crown Castle International Corp. (CCI)?

Judging by the fact that Crown Castle International Corp. (NYSE:CCI) has witnessed bearish sentiment from hedge fund managers, it’s safe to say that there were a few money managers who were dropping their full holdings in the third quarter. Intriguingly, Daniel S. Och’s OZ Management said goodbye to the largest stake of the “upper crust” of funds tracked by Insider Monkey, valued at close to $66.7 million in stock, and Dmitry Balyasny’s Balyasny Asset Management was right behind this move, as the fund sold off about $26 million worth of shares. These transactions are important to note, as total hedge fund interest dropped by 2 funds in the third quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Crown Castle International Corp. (NYSE:CCI) but similarly valued. We will take a look at Korea Electric Power Corporation (ADR) (NYSE:KEP), L Brands Inc (NYSE:LB), BB&T Corporation (NYSE:BBT), and Synchrony Financial (NYSE:SYF). This group of stocks’ market caps is similar to Crown Castle International Corp. (NYSE:CCI)’s market cap.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $835 million. That figure was $1.87 billion in Crown Castle International Corp. (NYSE:CCI)’s case. BB&T Corporation (NYSE:BBT) is the most popular stock in this table. On the other hand, Korea Electric Power Corporation (ADR) (NYSE:KEP) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks, Crown Castle International Corp. (NYSE:CCI) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.