Hedge Funds Are Betting On Cablevision Systems Corporation (CVC)

As one would reasonably expect, specific money managers were leading the bulls’ herd. Jericho Capital Asset Management, managed by Josh Resnick, initiated the biggest position in Cablevision Systems Corporation (NYSE:CVC). Jericho Capital Asset Management had $307.7 million invested in the company at the end of the quarter. Rob Citrone’s Discovery Capital Management also initiated a $218.9 million position during the quarter. The other funds with brand new CVC positions are Matthew Halbower’s Pentwater Capital Management, Carl Tiedemann and Michael Tiedemann’s TIG Advisors, and Josh Resnick’s Jericho Capital Asset Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Cablevision Systems Corporation (NYSE:CVC) but similarly valued. These stocks are Dover Corp (NYSE:DOV), First Republic Bank (NYSE:FRC), UDR, Inc. (NYSE:UDR), and Expeditors International of Washington (NASDAQ:EXPD). This group of stocks’ market valuations resemble CVC’s market valuation.

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $392 million. That figure was $1,772 million in CVC’s case. Dover Corp (NYSE:DOV) is the most popular stock in this table. On the other hand UDR, Inc. (NYSE:UDR) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Cablevision Systems Corporation (NYSE:CVC) 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.