Envestnet Asset Management Inc. Acquires 12,483 Shares of Fox Corporation (NASDAQ:FOXA)

Envestnet Asset Management Inc. boosted its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,922 shares of the company's stock after purchasing an additional 12,483 shares during the period. Envestnet Asset Management Inc.'s holdings in FOX were worth $12,617,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. WealthTrak Capital Management LLC purchased a new position in FOX in the 4th quarter worth approximately $26,000. CIBC Private Wealth Group LLC increased its stake in 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 purchasing an additional 368 shares during the period. MV Capital Management Inc. increased its stake in FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after purchasing an additional 623 shares during the period. Sentry Investment Management LLC purchased a new position in FOX in the 1st quarter worth approximately $43,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of FOX in the 4th quarter worth approximately $49,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of recent analyst reports. Cfra Research lowered FOX from a "moderate buy" rating to a "hold" rating in a research report on Friday, June 27th. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Guggenheim reiterated a "buy" rating and issued a $62.00 price objective (up from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Barclays reiterated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Finally, Cowen reiterated a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $53.53.

FOX Stock Up 1.0%

FOX stock traded up $0.56 during mid-day trading on Wednesday, hitting $56.47. The company had a trading volume of 1,847,590 shares, compared to its average volume of 3,629,448. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The stock's 50 day moving average price is $55.38 and its two-hundred day moving average price is $53.12. Fox Corporation has a 12 month low of $36.09 and a 12 month high of $58.74. The company has a market capitalization of $25.39 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.25 and a beta of 0.51.

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

Insider Activity

In other news, CFO Steven Tomsic sold 39,642 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 21.77% of the stock is currently owned by 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.