What Do Hedge Funds Think of Media General, Inc. (MEG)?

Consequently, key hedge funds were breaking ground themselves. Starboard Value LP, managed by Jeffrey Smith, established the largest position in Media General, Inc. (NYSE:MEG). Starboard Value LP had $74.9 million invested in the company at the end of the quarter. Carl Tiedemann and Michael Tiedemann’s TIG Advisors also initiated a $22.5 million position during the quarter. The other funds with brand new MEG positions are Clint Carlson’s Carlson Capital, Jeffrey Smith’s Starboard Value LP, and Richard Barrera’s Roystone Capital Partners.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Media General, Inc. (NYSE:MEG) but similarly valued. These stocks are MKS Instruments, Inc. (NASDAQ:MKSI), Lexmark International Inc (NYSE:LXK), Cornerstone OnDemand, Inc. (NASDAQ:CSOD), and The Buckle, Inc. (NYSE:BKE). This group of stocks’ market values are similar to MEG’s market value.

As you can see these stocks had an average of 20.25 hedge funds with bullish positions and the average amount invested in these stocks was $316 million. That figure was $496 million in MEG’s case. MKS Instruments, Inc. (NASDAQ:MKSI) is the most popular stock in this table. On the other hand The Buckle, Inc. (NYSE:BKE) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Media General, Inc. (NYSE:MEG) 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.