Counterpoint Mutual Funds LLC Makes New $10.26 Million Investment in Fox Corporation $FOXA

Key Points

• Counterpoint Mutual Funds initiated a $10.26 million position in Fox Corporation, purchasing 163,735 shares during the third quarter. Institutional investors collectively own 52.52% of FOX.
• Analyst sentiment is broadly positive, with FOX receiving a consensus “Moderate Buy” rating and an average price target of $78.12; Bank of America and JPMorgan recently upgraded the stock.
• FOX reported stronger-than-expected quarterly results, including $1.79 in earnings per share and $4.21 billion in revenue, while its Roku acquisition is viewed as a potential driver of future growth and monetization.

Counterpoint Mutual Funds LLC purchased a new stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 163,735 shares of the company's stock, valued at approximately $10,258,000. FOX accounts for approximately 0.9% of Counterpoint Mutual Funds LLC's holdings, making the stock its 17th biggest position.

Other hedge funds have also bought and sold shares of the company. Junto Capital Management LP acquired a new stake in shares of FOX during the second quarter worth $34,773,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of FOX during the second quarter worth about $21,519,000. SG Americas Securities LLC raised its position in FOX by 299.8% in the 1st quarter. SG Americas Securities LLC now owns 511,811 shares of the company's stock valued at $29,890,000 after buying an additional 383,782 shares during the last quarter. Andra AP fonden raised its position in FOX by 208.1% in the 1st quarter. Andra AP fonden now owns 247,000 shares of the company's stock valued at $14,425,000 after buying an additional 166,822 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in FOX by 12.4% in the 2nd quarter. Squarepoint Ops LLC now owns 1,127,389 shares of the company's stock valued at $58,805,000 after acquiring an additional 124,143 shares in the last quarter. Institutional investors own 52.52% of the company's stock.

Insider Activity at FOX

In other news, CEO Lachlan Murdoch acquired 149,934 shares of the firm's stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the transaction, the chief executive officer directly owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 20.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on FOXA. Needham & Company LLC assumed coverage on shares of FOX in a research report on Friday. They issued a "buy" rating on the stock. Guggenheim reaffirmed a "buy" rating and issued a $85.00 target price on shares of FOX in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. upgraded shares of FOX from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Zacks Research cut shares of FOX from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Finally, Bank of America upgraded shares of FOX from an "underperform" rating to a "buy" rating and increased their price objective for the stock from $54.00 to $85.00 in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, FOX has a consensus rating of "Moderate Buy" and a consensus price target of $78.12.

Key FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Bank of America upgraded Fox Corporation (FOXA) to “Buy” from “Underperform” and raised its price target to $85 from $54. The bank expects the Roku acquisition to strengthen Fox’s growth outlook and generate approximately $700 million in additional annual earnings by 2028. Fox upgraded to Buy at Bank of America as Roku deal boosts growth outlook
• Positive Sentiment: Fox’s acquisition of Roku gives it a direct platform for distributing programming to viewers, potentially improving the reach and monetization of major content such as Sunday NFL games. Why Fox Can Finally Breathe a Sigh of Relief With Roku Deal—and Why the NFL Can't
• Positive Sentiment: Options activity was notably bullish: investors bought 6,021 FOX call contracts, more than double the average volume of 2,759. This suggests increased speculative interest in further upside, though options activity is not a guarantee of future performance.
• Positive Sentiment: Fox received additional positive attention from a Zacks upgrade, with commentary suggesting the stock may have been undervalued relative to earnings estimates and intrinsic value. Fox Wins A Zacks Upgrade
• Neutral Sentiment: Reports indicate that Fox has officially acquired Roku, although some analyst commentary still describes the transaction as pending. The strategic benefits are positive, but execution, integration costs, and the ability to convert Roku’s platform into sustained earnings remain key considerations. FOX OFFICIALLY ACQUIRES ROKU
• Negative Sentiment: Fox recently traded below its 200-day moving average, a technical warning that may limit near-term momentum despite the stronger fundamental outlook. FOX Share Price Crosses Below 200-Day Moving Average

FOX Trading Up 0.3%

NASDAQ FOXA opened at $64.15 on Friday. The company has a market cap of $26.92 billion, a PE ratio of 16.75, a PEG ratio of 1.14 and a beta of 0.60. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. Fox Corporation has a 12 month low of $48.34 and a 12 month high of $76.39. The stock has a 50 day moving average of $65.26 and a 200-day moving average of $61.93.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.35. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. The firm's revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 earnings per share. On average, equities research analysts anticipate that Fox Corporation will post 5.94 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were paid a $0.29 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a yield of 86.0%. FOX's dividend payout ratio (DPR) is currently 15.14%.

FOX Company Profile

Fox Corporation NASDAQ: FOXA is a U.S. media company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and Tubi, an ad-supported streaming service offering movies, television programs, and other digital content.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, and related audio and digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted programming through the FOX broadcast network and other platforms.

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