What Do Hedge Funds Think of Gray Television, Inc. (GTN)?

Since Gray Television, Inc. (NYSE:GTN) has experienced a declination in interest from the smart money, it’s easy to see that there were a few money managers who were dropping their positions entirely heading into Q4. Interestingly, Richard S. Meisenberg’s ACK Asset Management said goodbye to the biggest stake of all the hedgies monitored by Insider Monkey, comprising about $16 million in stock, and Dmitry Balyasny’s Balyasny Asset Management was right behind this move, as the fund cut about $12.7 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest dropped by 4 funds heading into Q4.

Let’s now take a look at hedge fund activity in other stocks similar to Gray Television, Inc. (NYSE:GTN). These stocks are Q2 Holdings Inc (NYSE:QTWO), LDR Holding Corp (NASDAQ:LDRH), Costamare Inc (NYSE:CMRE), and Krispy Kreme Doughnuts (NYSE:KKD). This group of stocks’ market values match GTN’s market value.

As you can see these stocks had an average of 17.25 hedge funds with bullish positions and the average amount invested in these stocks was $72 million. That figure was $172 million in GTN’s case. Q2 Holdings Inc (NYSE:QTWO) is the most popular stock in this table. On the other hand LDR Holding Corp (NASDAQ:LDRH) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Gray Television, Inc. (NYSE:GTN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.