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Is Scripps Networks Interactive, Inc. (SNI) A Good Stock to Own?

With general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. Sandler Capital Management created the most valuable call position in Scripps Networks Interactive, Inc. (NYSE:SNI). Sandler Capital Management had $39.5 million invested in the company at the end of the quarter. Phill Gross and Robert Atchinson’s Adage Capital Management also initiated a $12.5 million position during the quarter. The other funds with brand new SNI positions are Chuck Royce’s Royce & Associates, Matthew Hulsizer’s PEAK6 Capital Management, and Ken Griffin’s Citadel Investment Group.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Scripps Networks Interactive, Inc. (NYSE:SNI) but similarly valued. We will take a look at Darden Restaurants, Inc. (NYSE:DRI), Garmin Ltd. (NASDAQ:GRMN), Crescent Point Energy Corp (NYSE:CPG), and ANSYS, Inc. (NASDAQ:ANSS). This group of stocks’ market values match SNI’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
DRI 29 452524 -2
GRMN 25 212834 8
CPG 16 47001 -2
ANSS 24 657657 4

As you can see these stocks had an average of 23.5 hedge funds with bullish positions and the average amount invested in these stocks was $343 million. That figure was $1.00 billion in SNI’s case. Darden Restaurants, Inc. (NYSE:DRI) is the most popular stock in this table. On the other hand Crescent Point Energy Corp (NYSE:CPG) is the least popular one with only 16 bullish hedge fund positions. Scripps Networks Interactive, Inc. (NYSE:SNI) is not the least popular stock in this group but hedge fund interest is still below average, though it does have more money invested in it than any other stock. Nonetheless, we’d rather spend our time researching stocks that hedge funds are piling on. In this regard DRI might be a better candidate to consider a long position in.

Disclosure: None

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