Hedge Funds Are Selling Twenty-First Century Fox Inc (FOX)

Judging by the fact that Twenty-First Century Fox Inc (NASDAQ:FOX) has weathered a decline in interest from the smart money, we can see that there is a sect of fund managers who were dropping their full holdings by the end of the third quarter. At the top of the heap, David Tepper’s Appaloosa Management LP cut the largest investment of all the investors watched by Insider Monkey, worth an estimated $29.6 million in stock, and Panayotis Takis Sparaggis’s Alkeon Capital Management was right behind this move, as the fund sold off about $24.1 million worth of FOX shares.

Let’s now take a look at hedge fund activity in other stocks similar to Twenty-First Century Fox Inc (NASDAQ:FOX). We will take a look at Prudential Public Limited Company (ADR) (NYSE:PUK), Las Vegas Sands Corp. (NYSE:LVS), Kimberly Clark Corp (NYSE:KMB), and Monsanto Company (NYSE:MON). This group of stocks’ market values are similar to FOX’s market value.

As you can see these stocks had an average of 37 hedge funds with bullish positions and the average amount invested in these stocks was $1.44 billion. That figure was $3.62 billion in FOX’s case. Monsanto Company (NYSE:MON) is the most popular stock in this table. On the other hand Prudential Public Limited Company (ADR) (NYSE:PUK) is the least popular one with only 9 bullish hedge fund positions. Twenty-First Century Fox Inc (NASDAQ:FOX) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MON might be a better candidate to consider taking a long position in.

Disclosure: none.