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Is It Time to Buy Time Inc (TIME)?

As industry-wide interest jumped, some big names were breaking ground themselves. Omega Advisors established the largest position in Time Inc (NYSE:TIME). Omega Advisors had $13.1 million invested in the company at the end of the quarter. Neil Chriss’ Hutchin Hill Capital also initiated a $1.5 million position during the quarter. The following funds were also among the new TIME investors: Matthew Tewksbury’s Stevens Capital Management, Glenn Russell Dubin’s Highbridge Capital Management, and Paul Tudor Jones’ Tudor Investment Corp.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Time Inc (NYSE:TIME) but similarly valued. These stocks are Ambarella Inc (NASDAQ:AMBA), TherapeuticsMD Inc (OTC:TXMD), GNC Holdings Inc (NYSE:GNC), and Dean Foods Co (NYSE:DF). This group of stocks’ market valuations resemble TIME’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AMBA 16 332466 3
TXMD 13 56897 4
GNC 28 116345 -3
DF 20 152108 -1

As you can see these stocks had an average of 19.25 hedge funds with bullish positions and the average amount invested in these stocks was $164 million. That figure was $147 million in TIME’s case. GNC Holdings Inc (NYSE:GNC) is the most popular stock in this table. On the other hand TherapeuticsMD Inc (OTC:TXMD) is the least popular one with only 13 bullish hedge fund positions. Time Inc (NYSE:TIME) 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 really love. In this regard GNC might be a better candidate to consider a long position in.

Disclosure: None

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