Is Entravision Communication (EVC) A Good Stock To Buy?

Seeing as Entravision Communication (NYSE:EVC) has experienced a decline in interest from the aggregate hedge fund industry, we can see that there was a specific group of hedgies who sold off their positions entirely last quarter. Interestingly, Matthew Taylor and Ty Popplewell’s Kortright Capital Partners sold off the largest investment of the 700 funds followed by Insider Monkey, totaling close to $1.9 million in stock. Solomon Kumin’s fund, Folger Hill Asset Management, also dropped its stock, about $1.3 million worth. These transactions are intriguing to say the least, as total hedge fund interest fell by 1 fund last quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Entravision Communication (NYSE:EVC) but similarly valued. We will take a look at 1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), Qiwi PLC (NASDAQ:QIWI), Rayonier Advanced Materials Inc (NYSE:RYAM), and Virtus Investment Partners Inc (NASDAQ:VRTS). All of these stocks’ market caps resemble EVC’s market cap.

As you can see these stocks had an average of 14.75 hedge funds with bullish positions and the average amount invested in these stocks was $79 million. That figure was $138 million in EVC’s case. Rayonier Advanced Materials Inc (NYSE:RYAM) is the most popular stock in this table. On the other hand Qiwi PLC (NASDAQ:QIWI) is the least popular one with only 9 bullish hedge fund positions. Entravision Communication (NYSE:EVC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard RYAM might be a better candidate to consider a long position.

Disclosure: None