Is Liberty Media Group (LMCA) A Good Stock To Buy?

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Consequently, specific money managers have been driving this bullishness. Cove Street Capital assembled the most outsized position in Liberty Media Corp (NASDAQ:LMCA). Cove Street Capital had $38.8 million invested in the company at the end of the quarter.  Ratan Capital Group also made a $29.5 million investment in the stock during the quarter. The other funds with brand new LMCA positions are Odey Asset Management Group, Hound Partners, and Glen Kacher’s Light Street Capital.

Let’s now take a look at hedge fund activity in other stocks similar to Liberty Media Corp (NASDAQ:LMCA). These stocks are Omega Healthcare Investors Inc (NYSE:OHI), Liberty Media Corp (NASDAQ:LMCK), EQT Midstream Partners LP (NYSE:EQM), and Axalta Coating Systems Ltd (NYSE:AXTA). This group of stocks’ market caps match LMCA’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OHI 11 50369 -4
LMCK 19 651364 -1
EQM 8 66731 -3
AXTA 49 2881916 6

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $913 million. That figure was $286 million in LMCA’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 Corp (NASDAQ:LMCA) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but 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.

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Disclosure: None




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