Is Twenty-First Century Fox Inc (FOXA) the Right Stock for Your Portfolio?

Because Twenty-First Century Fox Inc (NASDAQ:FOXA) has faced a decline in interest from the entirety of the hedge funds we track, we can see that there were a few fund managers that elected to cut their entire stakes during the third quarter. It’s worth mentioning that Thomas Steyer’s Farallon Capital sold off the largest position of the “upper crust” of funds followed by Insider Monkey, valued at an estimated $137.6 million in stock. David Einhorn’s fund, Greenlight Capital, also sold off its position, worth about $129 million.

Let’s check out hedge fund activity in other stocks similar to Twenty-First Century Fox Inc (NASDAQ:FOXA). These stocks are CME Group Inc (NASDAQ:CME), CIGNA Corporation (NYSE:CI), Brookfield Asset Management Inc. (USA) (NYSE:BAM), and Monster Beverage Corp (NASDAQ:MNST). This group of stocks’ market caps are similar to FOXA’s market cap.

As you can see these stocks had an average of 40 funds with bullish positions at the end of September and the average amount invested in these stocks was $1.75 billion. That figure was $3.56 billion in FOXA’s case. CIGNA Corporation (NYSE:CI) is the most popular stock in this table. On the other hand, Brookfield Asset Management Inc. (USA) (NYSE:BAM) is the least popular one with only 19 bullish hedge fund positions. Twenty-First Century Fox Inc (NASDAQ:FOXA) 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 CI might be a better candidate to consider a long position.