Blueshift Asset Management LLC Takes $431,000 Position in Fox Corporation (NASDAQ:FOXA)

Blueshift Asset Management LLC purchased a new position in Fox Corporation (NASDAQ:FOXA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,610 shares of the company's stock, valued at approximately $431,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its position in shares of FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after buying an additional 368 shares during the last quarter. MV Capital Management Inc. boosted its stake in FOX by 929.9% in the first quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after acquiring an additional 623 shares in the last quarter. Sentry Investment Management LLC purchased a new position in FOX in the first quarter worth $43,000. Allworth Financial LP grew its holdings in FOX by 55.2% in the first quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after purchasing an additional 280 shares during the last quarter. Finally, TCTC Holdings LLC increased its position in shares of FOX by 112.5% during the first quarter. TCTC Holdings LLC now owns 797 shares of the company's stock worth $45,000 after purchasing an additional 422 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FOXA shares. Barclays reissued an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Wells Fargo & Company boosted their price target on FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Cfra Research downgraded shares of FOX from a "moderate buy" rating to a "hold" rating in a report on Friday, June 27th. Guggenheim reiterated a "buy" rating and issued a $62.00 target price (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Finally, Cowen restated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $53.53.

Insiders Place Their Bets

In other news, CFO Steven Tomsic sold 39,642 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the sale, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $7,405,941.90. This represents a 22.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 21.77% of the company's stock.

FOX Stock Down 0.4%

Shares of FOXA stock opened at $55.54 on Friday. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. Fox Corporation has a twelve month low of $36.09 and a twelve month high of $58.74. The stock has a 50 day moving average of $55.44 and a 200 day moving average of $53.46. The stock has a market cap of $24.97 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.25 and a beta of 0.54.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.17. FOX had a net margin of 11.58% and a return on equity of 17.99%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the firm earned $1.40 EPS. The business's quarterly revenue was up 26.8% on a year-over-year basis. As a group, sell-side analysts expect that Fox Corporation will post 4.38 EPS for the current year.

FOX 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.

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