Is CTC Media, Inc. (CTCM) Going to Burn These Hedge Funds?

Seeing as CTC Media, Inc. (NASDAQ:CTCM) has experienced a bearish sentiment from the entirety of the hedge funds we track, logic holds that there was a specific group of hedge funds who were dropping their full holdings last quarter. At the top of the heap, David Dreman’s Dreman Value Management cut the biggest stake of the 700 funds tracked by Insider Monkey, valued at about $0.9 million in stock, and Ken Gray and Steve Walsh’s Bryn Mawr Capital was right behind this move, as the fund cut about $0.4 million worth of shares. These moves are intriguing to say the least, as total hedge fund interest fell by 2 funds last quarter.

Let’s also examine hedge fund activity in other stocks similar to CTC Media, Inc. (NASDAQ:CTCM). We will take a look at Heritage Oaks Bancorp (NASDAQ:HEOP), Northern Oil & Gas, Inc. (NYSEMKT:NOG), Synutra International, Inc. (NASDAQ:SYUT), and Lion Biotechnologies Inc (NASDAQ:LBIO). All of these stocks’ market caps match CTC Media, Inc. (NASDAQ:CTCM)’s market cap.

As you can see, these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $37 million. That figure was $8 million in CTC Media, Inc. (NASDAQ:CTCM)’s case. Lion Biotechnologies Inc (NASDAQ:LBIO) is the most popular stock in this table. On the other hand, Heritage Oaks Bancorp (NASDAQ:HEOP) is the least popular one with only 4 bullish hedge fund positions. CTC Media, Inc. (NASDAQ:CTCM) 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, Lion Biotechnologies Inc (NASDAQ:LBIO) might be a better candidate to consider a long position.