Hedge Funds Are Dumping Liberty Media Corporation – Series C Liberty Media (LMCK)

Due to the fact that Liberty Media Corporation – Series C Liberty Media (NASDAQ:LMCK) has witnessed declining sentiment from hedge fund managers, we can see that there was a specific group of funds who were dropping their full holdings by the end of the third quarter. At the top of the heap, Michael Hintze’s CQS Cayman LP cut the biggest stake of all the hedgies followed by Insider Monkey, worth about $6.7 million in stock. John Thiessen’s fund, Vertex One Asset Management, also dumped its stock, about $1.8 million worth. These moves are interesting, as total hedge fund interest dropped by 1 fund by the end of the third quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Liberty Media Corporation – Series C Liberty Media (NASDAQ:LMCK) but similarly valued. We will take a look at EQT Midstream Partners LP (NYSE:EQM), Axalta Coating Systems Ltd (NYSE:AXTA), Westinghouse Air Brake Technologies Corp (NYSE:WAB), and Aqua America Inc (NYSE:WTR). This group of stocks’ market valuations are similar to LMCK’s market valuation.

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $896 million. That figure was $651 million in LMCK’s case. Axalta Coating Systems Ltd (NYSE:AXTA) is the most popular stock in this table. On the other hand EQT Midstream Partners LP (NYSE:EQM) is the least popular one with only 8 bullish hedge fund positions. Liberty Media Corporation – Series C Liberty Media (NASDAQ:LMCK) 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 AXTA might be a better candidate to consider a long position in.

Disclosure: None