26,542 Fox Corporation $FOX Shares Sold by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors cut its FOX position by 60.7%, selling 26,542 shares and retaining 17,180 shares valued at approximately $967,000. Other institutional investors were more active on the buying side, and institutions collectively own 26.41% of FOX.
• CEO Lachlan Murdoch purchased 149,934 shares for roughly $10.3 million, increasing his ownership by 11.98%; insiders now own 23.06% of the company.
• FOX reported quarterly earnings of $1.79 per share and revenue of $4.21 billion, exceeding analyst estimates. Analysts maintain a consensus “Buy” rating with an average price target of $78.40, compared with the stock’s reported price of $58.15.

Nisa Investment Advisors LLC decreased its holdings in Fox Corporation (NASDAQ:FOX - Free Report) by 60.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 17,180 shares of the company's stock after selling 26,542 shares during the period. Nisa Investment Advisors LLC's holdings in FOX were worth $967,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FOX. Assenagon Asset Management S.A. increased its position in shares of FOX by 54.7% in the third quarter. Assenagon Asset Management S.A. now owns 655,706 shares of the company's stock worth $36,916,000 after acquiring an additional 231,724 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of FOX in the 2nd quarter valued at $35,047,000. Gamco Investors INC. ET AL lifted its holdings in shares of FOX by 10.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company's stock valued at $31,073,000 after acquiring an additional 53,166 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of FOX by 2.3% during the 1st quarter. Gabelli Funds LLC now owns 579,800 shares of the company's stock valued at $30,787,000 after acquiring an additional 13,200 shares in the last quarter. Finally, Cooper Investors PTY Ltd. acquired a new position in shares of FOX during the 3rd quarter valued at $24,136,000. Hedge funds and other institutional investors own 26.41% of the company's stock.

Insiders Place Their Bets

In other news, CEO Lachlan Murdoch purchased 149,934 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the acquisition, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This trade represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 23.06% of the company's stock.

FOX Stock Down 2.2%

Shares of NASDAQ:FOX opened at $58.15 on Tuesday. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. Fox Corporation has a 52-week low of $44.08 and a 52-week high of $68.18. The company has a 50 day moving average of $58.54 and a two-hundred day moving average of $56.25. The company has a market capitalization of $24.40 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63.

FOX (NASDAQ:FOX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. As a group, analysts forecast that Fox Corporation will post 6.23 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were paid a $0.29 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a dividend yield of 96.0%. FOX's dividend payout ratio is 15.14%.

Analyst Ratings Changes

FOX has been the subject of a number of research reports. Citizens Jmp raised shares of FOX to a "strong-buy" rating in a research report on Monday, September 14th. Rothschild & Co Redburn set a $71.00 price target on FOX in a report on Friday, July 10th. Wolfe Research set a $93.00 price objective on FOX in a research report on Thursday, August 20th. Weiss Ratings upgraded FOX from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, September 10th. Finally, Guggenheim restated a "buy" rating on shares of FOX in a research note on Tuesday, August 25th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $78.40.

FOX Company Profile

Fox Corporation NASDAQ: FOX is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox's entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.

The company's FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.

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