Forum Financial Management LP Makes New Investment in Fox Co. (NASDAQ:FOXA)

Forum Financial Management LP acquired a new position in shares of Fox Co. (NASDAQ:FOXA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,669 shares of the company's stock, valued at approximately $324,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in shares of FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company's stock valued at $405,194,000 after purchasing an additional 425,186 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in FOX by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company's stock valued at $185,344,000 after buying an additional 39,959 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of FOX by 17.1% in the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock valued at $170,111,000 after buying an additional 511,554 shares during the period. Norges Bank bought a new stake in shares of FOX during the fourth quarter worth $132,161,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of FOX by 8.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company's stock worth $130,043,000 after acquiring an additional 219,016 shares during the period. Institutional investors own 52.52% of the company's stock.

FOX Stock Performance

Shares of FOXA stock traded up $0.19 during midday trading on Friday, hitting $54.94. 6,216,789 shares of the company were exchanged, compared to its average volume of 3,521,920. The firm has a market capitalization of $24.70 billion, a P/E ratio of 11.76, a PEG ratio of 1.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. Fox Co. has a 52 week low of $32.76 and a 52 week high of $58.74. The firm's 50 day moving average price is $51.86 and its two-hundred day moving average price is $51.02.

FOX (NASDAQ:FOXA - Get Free Report) last posted 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 company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. As a group, equities research analysts anticipate that Fox Co. will post 4.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FOXA. Wolfe Research cut FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price for the company. in a report on Monday, April 7th. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. JPMorgan Chase & Co. lifted their target price on FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. UBS Group raised their price target on shares of FOX from $61.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Loop Capital boosted their price objective on shares of FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Two investment 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $52.71.

About FOX

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.