Is Central European Media Enterprises Ltd. (CETV) Worthy of Your Portfolio?

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The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Central European Media Enterprises Ltd. (NASDAQ:CETV).

At the end of the third quarter of 2016, seven funds tracked by Insider Monkey held long positions in Central European Media Enterprises Ltd. (NASDAQ:CETV). The company registered a slight decrease in hedge fund interest between July and September. At the end of this article we will also compare CETV to other stocks including MeetMe Inc (NYSEAMEX:MEET), BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX), and Tangoe Inc (NASDAQ:TNGO) to get a better sense of its popularity.

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We care about hedge fund sentiment because historically hedge funds’ stock picks delivered strong risk adjusted returns. There are certain segments of the market where hedge funds’ stock picks performed much better than its benchmarks. For instance, the 30 most popular mid-cap stocks among the best performing hedge funds returned 18% over the last 12 months outpacing S&P 500 Index by more than 10 percentage points. We developed this strategy 2.5 years ago and started sharing its picks in our quarterly newsletter. It bested the S&P 500 Index ETFs by delivering a solid 39% vs. 22% gain for its benchmarks.

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With all of this in mind, we’re going to take a gander at the new action regarding Central European Media Enterprises Ltd. (NASDAQ:CETV).

Hedge fund activity in Central European Media Enterprises Ltd. (NASDAQ:CETV)

At the end of the third quarter, a total of seven of the hedge funds tracked by Insider Monkey held long positions in this stock, down from eight funds at the end of June. Below, you can check out the change in hedge fund sentiment towards CETV over the last five quarters. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).

CETV Chart

When looking at the institutional investors followed by Insider Monkey, Eric Semler’s TCS Capital Management holds the biggest position in Central European Media Enterprises Ltd. (NASDAQ:CETV). TCS Capital Management has a $41.2 million position in the stock, comprising 22.5% of its 13F portfolio. The second largest stake is held by Discovery Capital Management, led by Rob Citrone, which holds a $10.8 million position; 0.2% of its 13F portfolio is allocated to the stock. Other professional money managers that are bullish contain Michael Thompson’s BHR Capital, Allan Teh’s Kamunting Street Capital, and D E Shaw, one of the biggest hedge funds in the world. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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