3 Stocks That Won’t Be Saved By Market Gains

Cablevision Systems Corporation (NYSE:CVC) recently announced that it has agreed to be acquired by European telecom giant Altice. Shares of the company have risen by a staggering 60% so far this year. The short interest on the company stood at 20.88% of its float at the end of August. Raymond James recently downgraded the company to ‘Underperform’ from ‘Outperform’, thereby providing more support for Goldman’s thesis on the company’s future.

Cablevision Systems Corporation (NYSE:CVC) is the only company in Goldman’s list on whose future prospects hedge funds seem to concur. The number of hedgies having the company in their portfolios decreased to 24 with a total investment of $863.83 million at the end of June compared to 29 firms with investments totaling $550.40 million. The increase in total investments had its roots in the stock price surge of about 39% during the quarter. John Paulson‘s Paulson & Co raised its stake in the company by 48% to 12.4 million shares during the second quarter.

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