Here is What Hedge Funds Think About Tribune Media Co (TRCO)

Since Tribune Media Co (NYSE:TRCO) has experienced falling interest from hedge fund managers, logic holds that there lies a certain “tier” of fund managers that decided to sell off their full holdings last quarter. Intriguingly, John Griffin’s Blue Ridge Capital said goodbye to the largest stake of the 700 funds watched by Insider Monkey, totaling an estimated $147.4 million in stock. Joel Greenblatt’s fund, Gotham Asset Management, also cut its stock, about $49.8 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 10 funds last quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Tribune Media Co (NYSE:TRCO) but similarly valued. These stocks are TreeHouse Foods Inc. (NYSE:THS), Dolby Laboratories, Inc. (NYSE:DLB), Nice Systems Ltd (ADR) (NASDAQ:NICE), and Retail Properties of America Inc (NYSE:RPAI). This group of stocks’ market values resemble TRCO’s market value.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $228 million. That figure was $1.36 billion in TRCO’s case. TreeHouse Foods Inc. (NYSE:THS) and Dolby Laboratories, Inc. (NYSE:DLB) are the most popular stocks in this table with a total of 21 funds reporting long stakes in them. On the other hand Retail Properties of America Inc (NYSE:RPAI) is the least popular one. Compared to these stocks Tribune Media Co (NYSE:TRCO) 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.