Fox Corporation $FOX Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC has increased its stake in Fox Corporation by 8.6%, now holding 92,096 shares valued at approximately $4.85 million after purchasing an additional 7,300 shares.
• Fox Corporation's quarterly earnings exceeded expectations, reporting $1.27 EPS, surpassing the consensus estimate of $1.03, and generating revenue of $3.29 billion against an expected $3.12 billion.
• The company declared a half-year dividend of $0.28 per share, set to be paid on September 24th to investors of record as of September 3rd.

Algert Global LLC boosted its stake in Fox Corporation (NASDAQ:FOX - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,096 shares of the company's stock after buying an additional 7,300 shares during the quarter. Algert Global LLC's holdings in FOX were worth $4,854,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FOX. Federated Hermes Inc. lifted its stake in FOX by 66.2% in the 1st quarter. Federated Hermes Inc. now owns 580 shares of the company's stock valued at $31,000 after buying an additional 231 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of FOX by 457.6% during the 1st quarter. IFP Advisors Inc now owns 697 shares of the company's stock worth $37,000 after purchasing an additional 572 shares during the period. Versant Capital Management Inc lifted its stake in shares of FOX by 327.3% during the 1st quarter. Versant Capital Management Inc now owns 1,346 shares of the company's stock worth $71,000 after purchasing an additional 1,031 shares during the period. Covestor Ltd lifted its stake in shares of FOX by 37.0% during the 1st quarter. Covestor Ltd now owns 1,402 shares of the company's stock worth $74,000 after purchasing an additional 379 shares during the period. Finally, Mufg Securities Americas Inc. purchased a new position in shares of FOX during the 4th quarter worth $89,000. Hedge funds and other institutional investors own 26.41% of the company's stock.

FOX Trading Up 0.8%

Shares of FOX stock traded up $0.45 during trading hours on Friday, reaching $54.43. 907,071 shares of the company's stock were exchanged, compared to its average volume of 1,218,644. Fox Corporation has a 52-week low of $35.89 and a 52-week high of $55.15. The firm has a market capitalization of $24.25 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.33 and a beta of 0.58. The company has a fifty day moving average of $51.37 and a 200-day moving average of $50.08. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55.

FOX (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.24. FOX had a return on equity of 18.86% and a net margin of 13.88%.The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. Sell-side analysts forecast that Fox Corporation will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently disclosed a half year 25 dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio is presently 11.41%.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. 23.06% of the stock is currently owned by insiders.

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.