5 Stocks to Buy According to British-Australian Billionaire Michael Hintze

2. Fox Corporation (NASDAQ:FOX)

Hintze’s Stake Value: $43,755,000
Percentage of Michael Hintze’s 13F Portfolio: 2.43%
Number of Hedge Fund Holders: 35

Fox Corporation (NASDAQ:FOX) is a news, sports, and entertainment company. The company was incorporated in 2018 and is ranked second on the list of 10 stocks to buy according to British-Australian billionaire Michael Hintze. Shares of Fox Corporation (NASDAQ:FOX) rallied 33.97% in the last 12 months. 

On August 5, Guggenheim analyst Michael Morris upgraded Fox Corporation (NASDAQ:FOX) to “Buy” from “Neutral” with a price target of $41.

Silver Ring Value Partners, in their fourth-quarter 2020 investor letter, mentioned Fox Corp (NASDAQ:FOX). Here is what the fund said:

“I sold our investment in FOX during the quarter at a small loss and redeployed the proceeds into shares of Discovery Communications and Mednax. The main reason for my sale was a new competitive threat, which widened the range of likely company outcomes. Furthermore, it added a competitive threat to the existing threat of secular decline that the industry is already battling to overcome. The probability of being right on having two independent things work out for the company is much lower than of it overcoming just one problem.

Fox Corp gets a substantial majority of its profits from Fox News. This is a network with very inelastic demand which has appeal to the ~45% of the country with conservative political views. With President Trump having lost the election, he began to agitate his supporters to switch viewership to more right-wing news outlets that were being more supportive of him and his claims about the election. Furthermore, there has been talk of him launching or backing a competing network, fracturing the conservative audience.…”(Click here to see the full text)