Allianz Asset Management GmbH Increases Stock Holdings in Fox Corporation (NASDAQ:FOX)

Key Points

• Allianz Asset Management GmbH significantly increased its stake in Fox Corporation by 187.5%, holding a total of 12,157 shares valued at $641,000 after acquiring an additional 7,928 shares in the first quarter.
• Fox Corporation's CFO, Steven Tomsic, sold 39,642 shares for approximately $2.19 million, resulting in a 22.84% decrease in his ownership of the stock.
• As of now, institutional investors own 26.41% of Fox shares, while company insiders own 23.06%, indicating a considerable institutional interest in the company.

Allianz Asset Management GmbH raised its stake in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 187.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,157 shares of the company's stock after purchasing an additional 7,928 shares during the period. Allianz Asset Management GmbH's holdings in FOX were worth $641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in FOX by 457.6% during the first quarter. IFP Advisors Inc now owns 697 shares of the company's stock valued at $37,000 after purchasing an additional 572 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of FOX by 135.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company's stock valued at $42,000 after buying an additional 522 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of FOX by 82.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company's stock valued at $61,000 after buying an additional 608 shares during the last quarter. Versant Capital Management Inc raised its position in shares of FOX by 327.3% in the first quarter. Versant Capital Management Inc now owns 1,346 shares of the company's stock valued at $71,000 after buying an additional 1,031 shares during the last quarter. Finally, Westpac Banking Corp raised its position in shares of FOX by 84.0% in the fourth quarter. Westpac Banking Corp now owns 1,625 shares of the company's stock valued at $74,000 after buying an additional 742 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

Shares of NASDAQ FOX traded up $1.29 during mid-day trading on Monday, reaching $52.02. The company's stock had a trading volume of 1,764,461 shares, compared to its average volume of 930,237. The stock has a 50-day moving average of $50.90 and a two-hundred day moving average of $49.65. The stock has a market capitalization of $23.39 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.14 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45. Fox Corporation has a 1-year low of $33.72 and a 1-year high of $55.00.

FOX (NASDAQ:FOX - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.14. The business had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.19 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. On average, equities research analysts anticipate that Fox Corporation will post 4.25 EPS for the current fiscal year.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 5,607 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were 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 owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 23.06% of the stock is owned by company insiders.

FOX Company Profile

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.