Balyasny Asset Management L.P. Buys 473,498 Shares of Fox Co. (NASDAQ:FOXA)

Balyasny Asset Management L.P. raised its position in Fox Co. (NASDAQ:FOXA - Free Report) by 114.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 886,003 shares of the company's stock after buying an additional 473,498 shares during the period. Balyasny Asset Management L.P. owned 0.19% of FOX worth $43,042,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FOXA. CIBC Private Wealth Group LLC grew its stake in FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after purchasing an additional 368 shares during the period. Asset Management One Co. Ltd. grew its position in FOX by 25.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company's stock valued at $5,856,000 after buying an additional 23,704 shares during the period. Park Avenue Securities LLC increased its holdings in FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company's stock worth $752,000 after buying an additional 3,787 shares during the last quarter. Brookstone Capital Management bought a new stake in FOX in the fourth quarter worth about $492,000. Finally, Franklin Resources Inc. boosted its stake in FOX by 108.4% in the third quarter. Franklin Resources Inc. now owns 177,342 shares of the company's stock valued at $7,369,000 after acquiring an additional 92,244 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Insider Buying and Selling

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Loop Capital boosted their target price on FOX from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. upped their price target on shares of FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Moffett Nathanson cut FOX from a "buy" rating to a "neutral" rating and lifted their price target for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Guggenheim reissued a "buy" rating and set a $60.00 price objective on shares of FOX in a report on Tuesday, March 25th. Finally, Wells Fargo & Company lowered their price target on shares of FOX from $63.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, FOX has a consensus rating of "Hold" and an average target price of $51.65.

FOX Trading Down 0.4 %

Shares of FOXA traded down $0.19 during mid-day trading on Friday, reaching $50.23. The company's stock had a trading volume of 5,679,874 shares, compared to its average volume of 3,418,230. Fox Co. has a 52 week low of $32.45 and a 52 week high of $58.74. The stock has a market cap of $22.78 billion, a PE ratio of 10.76, a P/E/G ratio of 1.27 and a beta of 0.51. The company's fifty day moving average price is $51.47 and its two-hundred day moving average price is $49.78. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. FOX's quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. On average, analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.