Fox Corporation $FOX Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors cut its FOX stake by 9% in the fourth quarter, selling 52,668 shares and leaving it with 532,017 shares worth about $34.5 million.
• Several FOX insiders sold large blocks of stock recently, including COO John Nallen and CEO Lachlan K. Murdoch; insider sales totaled 1.59 million shares worth $91.9 million over the last three months.
• Analysts remain mixed on FOX, but sentiment improved after Zacks Research upgraded the stock to “strong-buy,” while the consensus rating is still only “Moderate Buy” with an average price target of $75.

Gamco Investors INC. ET AL reduced its position in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 532,017 shares of the company's stock after selling 52,668 shares during the period. Gamco Investors INC. ET AL owned about 0.12% of FOX worth $34,544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Root Financial Partners LLC acquired a new stake in shares of FOX during the 3rd quarter valued at approximately $26,000. Quent Capital LLC acquired a new stake in shares of FOX during the 3rd quarter valued at approximately $32,000. Brown Brothers Harriman & Co. raised its position in shares of FOX by 336.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company's stock valued at $35,000 after acquiring an additional 475 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX during the 3rd quarter valued at approximately $74,000. Finally, Geneos Wealth Management Inc. raised its position in shares of FOX by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company's stock valued at $76,000 after acquiring an additional 703 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 242,309 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $57.74, for a total value of $13,990,921.66. Following the completion of the transaction, the chief operating officer owned 357,653 shares of the company's stock, valued at approximately $20,650,884.22. This represents a 40.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the transaction, the chief executive officer directly owned 152 shares of the company's stock, valued at approximately $8,846.40. The trade was a 99.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,586,871 shares of company stock valued at $91,893,926. Company insiders own 23.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America restated an "underperform" rating and set a $45.00 price objective (down from $80.00) on shares of FOX in a research note on Wednesday, February 25th. Zacks Research upgraded FOX from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company downgraded FOX from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

FOX News Summary

Here are the key news stories impacting FOX this week:

• Positive Sentiment: FOX was upgraded by Zacks Research from “hold” to “strong-buy,” which can support sentiment by signaling improved analyst confidence in the stock’s outlook.
• Neutral Sentiment: Fox News content highlighted a range of political and world-news topics, including the Trump-Xi summit, Iran, immigration, and a reported Ebola outbreak. These stories may help drive audience engagement, but they do not appear to be direct earnings or operational catalysts for Fox Corporation.
• Neutral Sentiment: Several Fox News video segments focused on commentary and interviews rather than company-specific business updates, so their immediate impact on FOX shares is likely limited.

FOX Price Performance

Shares of FOX opened at $57.87 on Monday. The company has a market cap of $24.62 billion, a P/E ratio of 15.27, a PEG ratio of 6.83 and a beta of 0.54. The stock has a fifty day moving average price of $55.16 and a 200 day moving average price of $58.49. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. Fox Corporation has a 12 month low of $48.42 and a 12 month high of $68.18.

FOX (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.30. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%. On average, research analysts forecast that Fox Corporation will post 4.76 earnings per share for the current year.

FOX Company Profile

Fox Corporation NASDAQ: FOX is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX's core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.

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