Should You Buy Global Eagle Entertainment Inc (ENT)?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dropped their entire stakes in the stock during the third quarter. Intriguingly, George Hall’s Clinton Group dropped the largest position of all the hedgies monitored by Insider Monkey, valued at an estimated $0.2 million in stock. Ken Griffin’s fund, Citadel Investment Group, also said goodbye to its call options, about $0.2 million worth.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Global Eagle Entertainment Inc (NASDAQ:ENT) but similarly valued. We will take a look at Costamare Inc (NYSE:CMRE), The Marcus Corporation (NYSE:MCS), National Bank Holdings Corp (NYSE:NBHC), and Customers Bancorp Inc (NASDAQ:CUBI). All of these stocks’ market caps resemble ENT’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $35 million. That figure was $309 million in ENT’s case. Costamare Inc (NYSE:CMRE) is the most popular stock in this table. On the other hand Customers Bancorp Inc (NASDAQ:CUBI) is the least popular one with only 8 bullish hedge fund positions. Global Eagle Entertainment Inc (NASDAQ:ENT) 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 CMRE might be a better candidate to consider taking a long position in.

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Disclosure: None