Is Central European Media Enterprises Ltd. (CETV) Worthy of Your Portfolio?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually sold off their positions entirely. Interestingly, Satyen Mehta’s Neon Liberty Capital Management sold off the biggest position of all the hedgies studied by Insider Monkey, worth close to $13.7 million in stock, and Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners was right behind this move, as the fund cut about $0 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to Central European Media Enterprises Ltd. (NASDAQ:CETV). We will take a look at MeetMe Inc (NYSEAMEX:MEET), BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX), Tangoe Inc (NASDAQ:TNGO), and Permian Basin Royalty Trust (NYSE:PBT). This group of stocks’ market caps resemble CETV’s market cap.

As you can see these stocks had an average of 14 funds with bullish positions and the average amount invested in these stocks was $54 million. That figure was $58 million in CETV’s case. MeetMe Inc (NYSEAMEX:MEET) is the most popular stock in this table. On the other hand Permian Basin Royalty Trust (NYSE:PBT) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Central European Media Enterprises Ltd. (NASDAQ:CETV) is even less popular than PBT. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None