GF Fund Management CO. LTD. purchased a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,173 shares of the company's stock, valued at approximately $576,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC boosted its stake in FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after purchasing an additional 368 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in FOX by 7.8% in the first quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock worth $364,000 after purchasing an additional 464 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in FOX by 152.1% in the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock worth $1,800,000 after purchasing an additional 19,181 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in FOX by 199.8% in the first quarter. Summit Trail Advisors LLC now owns 30,806 shares of the company's stock worth $1,744,000 after purchasing an additional 20,531 shares in the last quarter. Finally, Monument Capital Management acquired a new position in FOX in the first quarter worth $3,123,000. Institutional investors and hedge funds own 52.52% of the company's stock.
Insider Activity
In other FOX news, CFO Steven Tomsic sold 5,607 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the completion of the sale, the chief financial officer directly owned 133,923 shares in the company, valued at $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.77% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms have commented on FOXA. Wolfe Research lowered FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price objective on the stock. in a research note on Monday, April 7th. UBS Group set a $65.00 price objective on FOX and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Cfra Research downgraded FOX from a "moderate buy" rating to a "hold" rating in a research report on Friday, June 27th. Cowen restated a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Finally, Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $53.53.
View Our Latest Report on FOX
FOX Trading Up 2.0%
NASDAQ FOXA traded up $1.08 on Friday, reaching $56.21. The company had a trading volume of 3,647,022 shares, compared to its average volume of 3,606,903. The stock's 50 day moving average is $54.09 and its 200-day moving average is $52.56. The stock has a market cap of $25.27 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.26 and a beta of 0.51. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. Fox Corporation has a 52 week low of $34.35 and a 52 week high of $58.74.
FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. The firm's revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.40 earnings per share. Equities analysts predict that Fox Corporation will post 4.38 earnings per share for the current year.
FOX Company Profile
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Free Report)
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.
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