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.

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