Center For Asset Management LLC Acquires New Shares in Fox Corporation (NASDAQ:FOXA)

Center For Asset Management LLC purchased a new position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,852 shares of the company's stock, valued at approximately $841,000.

Other hedge funds have also made changes to their positions in the company. WealthTrak Capital Management LLC acquired a new position in FOX in the fourth quarter worth $26,000. SRS Capital Advisors Inc. boosted its holdings in shares of FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after acquiring an additional 262 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after acquiring an additional 249 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after acquiring an additional 368 shares during the period. Finally, MV Capital Management Inc. boosted its holdings in shares of FOX by 929.9% during 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 during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Stock Down 0.3%

NASDAQ FOXA traded down $0.18 during trading on Tuesday, hitting $55.90. The stock had a trading volume of 2,590,221 shares, compared to its average volume of 3,572,332. The company has a market capitalization of $25.13 billion, a PE ratio of 12.72, a P/E/G ratio of 1.19 and a beta of 0.51. The company's 50-day moving average price is $52.72 and its two-hundred day moving average price is $52.05. 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 12 month low of $33.82 and a 12 month high of $58.74.

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

Insider Activity at FOX

In other FOX 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 value of $310,459.59. Following the transaction, the chief financial officer now directly owns 133,923 shares of the company's stock, valued at $7,415,316.51. This represents a 4.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 21.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FOXA. Wolfe Research cut shares of 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. Wells Fargo & Company boosted their price target on shares of FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Morgan Stanley boosted their price target on shares of FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. Finally, Guggenheim reissued a "buy" rating and issued a $60.00 price target on shares of FOX in a research note on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $52.71.

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.