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Is Hemisphere Media Group Inc (HMTV) Going to Burn These Hedge Funds?

Due to the fact that Hemisphere Media Group Inc (NASDAQ:HMTV) has experienced a falling interest from the smart money, we can see that there was a specific group of money managers that decided to sell off their entire stakes by the end of the third quarter. Intriguingly, David Atterbury’s Whetstone Capital Advisors cut the biggest investment of all the hedgies monitored by Insider Monkey, totaling close to $7.2 million in stock. Quincy Lee’s fund, Ancient Art (Teton Capital), also said goodbye to its stock, about $4.1 million worth. These transactions are intriguing to say the least, as total hedge fund interest fell by 3 funds by the end of the third quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Hemisphere Media Group Inc (NASDAQ:HMTV) but similarly valued. These stocks are Albany Molecular Research, Inc. (NASDAQ:AMRI), TTM Technologies, Inc. (NASDAQ:TTMI), Workiva Inc (NYSE:WK), and Tidewater Inc. (NYSE:TDW). This group of stocks’ market caps are similar to HMTV’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AMRI 16 129030 2
TTMI 17 32369 -6
WK 4 54093 -2
TDW 16 45055 3

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $65 million. That figure was $139 million in HMTV’s case. TTM Technologies, Inc. (NASDAQ:TTMI) is the most popular stock in this table, while Workiva Inc (NYSE:WK) is the least popular one with only 4 bullish hedge fund positions. Hemisphere Media Group Inc (NASDAQ:HMTV) 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 TTMI might be a better candidate to consider a long position.

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