Should You Be Bullish On Twenty-First Century Fox Inc (FOXA)?

Seeing as Twenty-First Century Fox Inc (NASDAQ:FOXA) has experienced falling interest from hedge fund managers, it’s safe to say that there was a specific group of hedgies that slashed their entire stakes last quarter. Intriguingly, Andreas Halvorsen’s Viking Global sold off the biggest stake of all the hedgies monitored by Insider Monkey, comprising an estimated $263.4 million in stock, and Doug Silverman and Alexander Klabin of Senator Investment Group was right behind this move, as the fund cut about $211.5 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest was cut by 1 funds last quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Twenty-First Century Fox Inc (NASDAQ:FOXA) but similarly valued. These stocks are Northrop Grumman Corporation (NYSE:NOC), T MOBILE US INC (NYSE:TMUS), Ecolab Inc. (NYSE:ECL), and Ericsson (ADR) (NASDAQ:ERIC). This group of stocks’ market valuations are similar to FOXA’s market valuation.

As you can see these stocks had an average of 32 hedge funds with bullish positions and the average amount invested in these stocks was $1.84 billion. By comparison, hedge funds amassed stakes worth $4.04 billion in aggregate, in FOXA’s case. T MOBILE US INC (NYSE:TMUS) is the most popular stock in this table with 54 long positions and Twenty-First Century Fox Inc (NASDAQ:FOXA) is even 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.