Fox Corporation (NASDAQ:FOX) Stock Position Lifted by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Fox Corporation by 23.6%, owning 363,662 shares valued at approximately $19.17 million as of the end of the first quarter.
• Fox Corporation reported earnings of $1.10 per share for the last quarter, exceeding analysts' expectations of $0.96, with a revenue of $4.37 billion.
• Insiders currently own 23.06% of Fox Corporation's stock, with CFO Steven Tomsic reducing his ownership by selling 5,607 shares.

Skandinaviska Enskilda Banken AB publ boosted its position in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 23.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 363,662 shares of the company's stock after buying an additional 69,517 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.08% of FOX worth $19,169,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. IFP Advisors Inc boosted its stake in FOX by 457.6% during the first quarter. IFP Advisors Inc now owns 697 shares of the company's stock valued at $37,000 after buying an additional 572 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in FOX by 135.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company's stock valued at $42,000 after buying an additional 522 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in FOX by 82.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company's stock valued at $61,000 after buying an additional 608 shares in the last quarter. Versant Capital Management Inc boosted its stake in FOX by 327.3% during the first quarter. Versant Capital Management Inc now owns 1,346 shares of the company's stock valued at $71,000 after buying an additional 1,031 shares in the last quarter. Finally, Westpac Banking Corp boosted its stake in FOX by 84.0% during the fourth quarter. Westpac Banking Corp now owns 1,625 shares of the company's stock valued at $74,000 after buying an additional 742 shares in the last quarter. Institutional investors own 26.41% of the company's stock.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 23.06% of the stock is currently owned by corporate insiders.

FOX Trading Up 0.8%

Shares of FOX stock opened at $52.12 on Friday. The stock has a 50-day simple moving average of $50.89 and a 200 day simple moving average of $49.43. Fox Corporation has a fifty-two week low of $33.72 and a fifty-two week high of $55.00. The stock has a market capitalization of $23.43 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.16 and a beta of 0.56. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOX - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.96 by $0.14. FOX had a return on equity of 17.99% and a net margin of 11.58%. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.19 billion. On average, sell-side analysts expect that Fox Corporation will post 4.25 earnings per share for the current fiscal year.

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.

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