Top Investors Running Out Of Patience With Time Inc (TIME)

Seeing as Time Inc (NYSE:TIME) has witnessed falling interest from the aggregate hedge fund industry, we can see that there was a specific group of fund managers that elected to cut their entire stakes last quarter. It’s worth mentioning that Joel Greenblatt’s Gotham Asset Management dropped the largest investment of all the hedgies followed by Insider Monkey, comprising an estimated $22.9 million in stock. Paul Marshall and Ian Wace’s fund, Marshall Wace LLP, also cut its stock, about $10 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest was cut by 7 funds last quarter.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Time Inc (NYSE:TIME) but similarly valued. These stocks are Generac Holdings Inc. (NYSE:GNRC), Triumph Group Inc (NYSE:TGI), Acadia Realty Trust (NYSE:AKR), and Fresh Del Monte Produce Inc (NYSE:FDP). This group of stocks’ market values are similar to Time Inc’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GNRC 14 150391 -1
TGI 26 341365 -4
AKR 10 118150 -1
FDP 10 45400 2

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 $164 million. That figure was $113 million in Time Inc’s case. Triumph Group Inc (NYSE:TGI) is the most popular stock in this table. On the other hand Acadia Realty Trust (NYSE:AKR) is the least popular one with only 10 bullish hedge fund positions. Time Inc (NYSE:TIME) 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 TGI might be a better candidate to consider a long position.