Hedge Funds Are Selling Telecom Argentina SA (ADR) (TEO)

Since Telecom Argentina SA (ADR) (NYSE:TEO) has sustained declining sentiment from hedge fund managers, it’s safe to say that there were a few hedge funds that slashed their positions entirely heading into Q4. At the top of the heap, Howard Marks’s Oaktree Capital Management said goodbye to the largest position of all the hedgies followed by Insider Monkey, valued at an estimated $10.2 million in stock, and Satyen Mehta’s Neon Liberty Capital Management was right behind this move, as the fund dumped about $8.2 million worth of shares.

Let’s now review hedge fund activity in other stocks similar to Telecom Argentina SA (ADR) (NYSE:TEO). We will take a look at Webster Financial Corporation (NYSE:WBS), Tallgrass Energy Partners LP (NYSE:TEP), Legg Mason, Inc. (NYSE:LM), and Corelogic Inc (NYSE:CLGX). This group of stocks’ market caps are closest to TEO’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $292 million. That figure was $85 million in TEO’s case. Legg Mason, Inc. (NYSE:LM) is the most popular stock in this table. On the other hand Tallgrass Energy Partners LP (NYSE:TEP) is the least popular one with only 5 bullish hedge fund positions. Telecom Argentina SA (ADR) (NYSE:TEO) 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 LM might be a better candidate to consider taking a long position in.

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