GAMMA Investing LLC increased its position in Fox Co. (NASDAQ:FOXA - Free Report) by 6,554.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 470,403 shares of the company's stock after purchasing an additional 463,334 shares during the quarter. GAMMA Investing LLC owned approximately 0.10% of FOX worth $26,625,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its stake 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 buying an additional 368 shares during the period. Asset Management One Co. Ltd. increased its position in FOX by 25.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company's stock valued at $5,856,000 after purchasing an additional 23,704 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of FOX in the 4th quarter valued at about $7,767,000. Captrust Financial Advisors purchased a new stake in shares of FOX in the 4th quarter worth approximately $306,000. Finally, Man Group plc purchased a new stake in shares of FOX in the 4th quarter worth approximately $3,239,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on FOXA. Cowen restated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. UBS Group boosted their price target on FOX from $61.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Wolfe Research cut shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price for the company. in a research note on Monday, April 7th. Finally, Guggenheim reissued a "buy" rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, FOX has an average rating of "Hold" and a consensus price target of $52.71.
Get Our Latest Stock Report on FOXA
FOX Stock Performance
Shares of FOX stock traded up $0.53 during trading on Friday, hitting $54.37. 2,928,577 shares of the company's stock were exchanged, compared to its average volume of 3,522,961. Fox Co. has a 52-week low of $32.76 and a 52-week high of $58.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The stock has a market capitalization of $24.45 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.27 and a beta of 0.51. The business has a 50-day simple moving average of $51.79 and a 200-day simple moving average of $51.30.
FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.93 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% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. On average, research analysts forecast that Fox Co. will post 4.38 EPS for the current year.
Insider Buying and Selling at FOX
In other news, CFO Steven Tomsic sold 5,607 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the transaction, the chief financial officer now owns 133,923 shares in the company, valued at $7,415,316.51. This trade represents a 4.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 21.77% of the stock is owned by corporate insiders.
FOX Profile
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Free Report)
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.
Further Reading
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