This article first appeared on GuruFocus.
IWR led the move, as ETF activity on Friday produced $76.3 million in net buying of Fox (FOXA). Forty-one ETFs added shares while 8 sold, and 115 held steady. The buying snapped a run of four straight days of net selling, which totaled $2.8 million, $3.3 million, $7.8 million and $2.7 million from Nov. 2 through Nov. 5. The same-direction streak stands at 1 day.
For the full record of ETF and guru buying and selling in FOXA, see the FOXA guru trades page.
Which ETFs bought FOXA on Friday?
The largest buyers by dollar value were IWR ($36.3 million), IWF ($30.1 million) and SMLF ($5.8 million). In all, 41 ETFs added shares and 8 cut them.
IWR added 545,300 shares for a $36.3 million value change, lifting its stake 64.63% to 1,389,080 shares at a 0.16% weight. IWF added 451,392 shares worth $30.1 million, and SMLF added 87,021 shares worth $5.8 million. XLC, the largest holder among the top funds with 6,035,914 shares, added 32,318 shares for $2.2 million at a 1.87% weight, while IWD added 16,357 shares for $1.1 million. Fox sits in the Communication Services sector and Entertainment industry with a market cap of $28.6 billion.
Have ETFs been buying or selling FOXA lately?
Over the last 5 reported days, ETFs were net buyers on 1 and net sellers on 4, so the recent trend is mostly selling.
What does FOXA do?
Fox Corporation is an American media company that operates primarily in news, sports, and broadcast television. Its Cable Network Programming segment includes Fox News Channel, Fox Business Network, and Fox Sports, which carries national sports rights including the NFL, Major League Baseball, and college sports.
Fox reported trailing-12-month revenue of $17.96 billion, up 15.7% over one year, with a gross margin of 35.6% and a net margin of 11.3%. Its P/E is 14.34, P/B 2.29 and P/S 1.63. The GF Score is 87, and GF Value of $65.78 compares with a price of $67.69. The dividend yield is 0.85% and the year-to-date return is -6.5%.