Wedge Capital Management L L P NC Has $42.10 Million Position in Fox Co. (NASDAQ:FOX)

Wedge Capital Management L L P NC cut its stake in Fox Co. (NASDAQ:FOX - Free Report) by 24.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 798,713 shares of the company's stock after selling 263,951 shares during the quarter. Wedge Capital Management L L P NC owned 0.18% of FOX worth $42,100,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Yousif Capital Management LLC lifted its stake in FOX by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 19,098 shares of the company's stock valued at $874,000 after buying an additional 212 shares in the last quarter. CMC Financial Group lifted its position in FOX by 5.9% in the 1st quarter. CMC Financial Group now owns 5,618 shares of the company's stock valued at $296,000 after acquiring an additional 311 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in FOX by 5.4% in the 4th quarter. iA Global Asset Management Inc. now owns 6,801 shares of the company's stock worth $311,000 after purchasing an additional 350 shares during the period. Principal Securities Inc. increased its holdings in FOX by 51.5% during the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company's stock worth $49,000 after purchasing an additional 362 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of FOX by 135.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company's stock valued at $42,000 after purchasing an additional 522 shares during the period. 26.41% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Down 0.5%

Shares of FOX stock traded down $0.23 on Monday, hitting $49.56. 1,539,989 shares of the stock were exchanged, compared to its average volume of 1,284,865. The business has a 50-day moving average of $47.86 and a 200 day moving average of $48.10. Fox Co. has a fifty-two week low of $30.51 and a fifty-two week high of $55.00. The firm has a market capitalization of $22.28 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 1.55 and a beta of 0.56. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.14. The company had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.19 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. Equities analysts anticipate that Fox Co. will post 4.25 EPS for the current year.

Insider Buying and Selling at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the completion of the transaction, the chief financial officer now owns 133,923 shares of the company's stock, valued at $7,415,316.51. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 23.06% of the company's stock.

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.