Is Liberty Braves Group (BATRA) A Good Stock To Buy?

Because Liberty Braves Group (NASDAQ:BATRA) has encountered bearish sentiment from the smart money, it’s easy to see that there was a specific group of hedgies who sold off their entire stakes by the end of the third quarter. It’s worth mentioning that Malcolm Fairbairn’s Ascend Capital dumped the biggest stake of all the investors monitored by Insider Monkey, totaling about $6.8 million in stock. Nick Niell’s fund, Arrowgrass Capital Partners, also cut its stock, about $0.6 million worth.

Let’s also examine hedge fund activity in other stocks similar to Liberty Braves Group (NASDAQ:BATRA). We will take a look at BJ’s Restaurants, Inc. (NASDAQ:BJRI), DBV Technologies SA – ADR (NASDAQ:DBVT), Cincinnati Bell Inc. (NYSE:CBB), and Brookline Bancorp, Inc. (NASDAQ:BRKL). This group of stocks’ market values are similar to BATRA’s market value.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $169 million. That figure was $62 million in BATRA’s case. BJ’s Restaurants, Inc. (NASDAQ:BJRI) is the most popular stock in this table. On the other hand Brookline Bancorp, Inc. (NASDAQ:BRKL) is the least popular one with only 11 bullish hedge fund positions. Liberty Braves Group (NASDAQ:BATRA) 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 BJRI might be a better candidate to consider taking a long position in.

Disclosure: None