Should You Follow Luxor Capital Group And Cut Exposure To CoStar Group (CSGP) And Three Other Stocks?

Luxor Capital Group’s stake in CoStar Group Inc (NASDAQ:CSGP) is relatively fresh, having been initiated during the second quarter. The fund’s management, however, decided to reduce its holding by 7% during the third quarter, taking it to 221,624 shares. According to the fund’s latest 13F filing, the position was worth $47.9 million at the end of September. The stock ended the third quarter down by 1%.

By the end of Q2, a total of 17 of the hedge funds in our system were invested in this stock, an increase of 6% from the previous quarter. The largest stake in CoStar Group Inc (NASDAQ:CSGP) was held by Daruma Asset Management, which reported holding $65.2 million worth of stock as of the end of June. It was followed by Bares Capital Management with a $58.5 million position. Other investors bullish on the company included Wildcat Capital Management and PAR Capital Management.

Last but not least is Videocon d2h Ltd – ADR (NASDAQ:VDTH), an Indian company that offers direct-to-home subscription television services. During the third quarter, Christian Leone and his team continued to offload Videocon shares, having reduced their investment by 10% to 5.39 million shares worth close to $52.7 million. The stock returned 15.3% during the third quarter.

Heading into the third quarter of 2016, a total of 14 of the hedge funds followed by Insider Monkey were bullish on this stock, unchanged from the first quarter of 2016. Among these funds, Luxor Capital Group held the most valuable stake in Videocon d2h Ltd – ADR (NASDAQ:VDTH), followed by GMT Capital which amassed $12.3 million worth of shares. Moreover, Trafelet Capital, GLG Partners, and Pentwater Capital Management were also bullish on Videocon d2h Ltd – ADR (NASDAQ:VDTH).

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