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Is Teligent Inc (NASDAQ:TLGT) A Good Stock To Buy?

Because Teligent Inc (NASDAQ:TLGT) has faced declining sentiment from the aggregate hedge fund industry, it’s safe to say that there was a specific group of money managers who sold off their positions entirely by the end of the third quarter. Intriguingly, William C. Martin’s Raging Capital Management sold off the largest investment of all the hedgies tracked by Insider Monkey, worth about $5.8 million in stock, and Dov Gertzulin’s DG Capital Management was right behind this move, as the fund dumped about $3.5 million worth of TLGT shares. These bearish behaviors are important to note, as total hedge fund interest was cut by 1 fund by the end of the third quarter.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Teligent Inc (NASDAQ:TLGT) but similarly valued. These stocks are Campus Crest Communities Inc (NYSE:CCG), Stoneridge, Inc. (NYSE:SRI), Servicesource International Inc (NASDAQ:SREV), and Navidea Biopharmaceuticals Inc (NYSEAMEX:NAVB). All of these stocks’ market caps match TLGT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CCG 11 93663 1
SRI 15 62447 6
SREV 12 118605 -2
NAVB 7 30254 1

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $76 million. That figure was just $29 million in TLGT’s case. Stoneridge, Inc. (NYSE:SRI) is the most popular stock in this table. On the other hand Navidea Biopharmaceuticals Inc (NYSEAMEX:NAVB) is the least popular one with only 7 bullish hedge fund positions. Teligent Inc (NASDAQ:TLGT)  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 SRI might be a better candidate to consider a long position.

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