Grupo Televisa SAB (ADR) (TV)’s Shares Plunge 6.18% After Missing Earnings’ Expectations

What does the smart money think about Grupo Televisa SAB (ADR) (NYSE:TV)?

At the end of the first quarter, a total of 25 of the hedge funds tracked by Insider Monkey were bullish in this stock, a reduction of 7% from the previous quarter. With hedge funds’ sentiment swirling, there exists a select group of notable hedge fund managers who were increasing their holdings substantially.

Jean-Marie Eveillard‘s First Eagle Investment Management was the largest stockholder of the company in our database with 32.38 million shares valued at $1.07 billion. Michael Larson‘s Bill & Melinda Gates Foundation Trust had the second-largest position in Grupo Televisa SAB (ADR) (NYSE:TV), worth close to $557.2 million, with 16.88 million shares, corresponding to 3% of its total 13F portfolio. Sitting at the number three spot is FPR Partners, managed by Bob Peck and Andy Raab, which held a $126.3 million position of 3.83 million shares; the fund has 3.3% of its 13F portfolio invested in the stock. Some other peers that are bullish encompass Ken Fisher’s Fisher Asset Management, Cliff Asness’ AQR Capital Management, and Howard Marks’ Oaktree Capital Management.

Due to the fact that Grupo Televisa SAB (ADR) (NYSE:TV) has witnessed a declination in interest from the smart money, it’s easy to see that there lies a certain “tier” of money managers who sold off their entire stakes heading into the second quarter. Interestingly, Bain Capital‘s Brookside Capital dropped the biggest position of the more than 700 funds monitored by Insider Monkey, totaling about $48.7 million in stock. Phill Gross and Robert Atchinson’s fund, Adage Capital Management, also dumped its position, about $16.2 million worth of stock. These bearish behaviors are intriguing to say the least, as total hedge fund interest fell by two funds heading into the next quarter.

This is the fourth continuous quarter in which the company has fallen short of the market’s earnings expectations, and considering the bearish hedge fund sentiment and overcooked appreciation of the company’s shares, we do not recommend buying at this time, even on the dip today.

Disclosure: None