Fox Corporation (NASDAQ:FOXA) Position Boosted by CWA Asset Management Group LLC

CWA Asset Management Group LLC lifted its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 32.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,906 shares of the company's stock after acquiring an additional 9,536 shares during the quarter. CWA Asset Management Group LLC's holdings in FOX were worth $2,202,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC bought a new position in FOX in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. raised its position in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after acquiring an additional 262 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after buying an additional 249 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after purchasing an additional 368 shares during the last quarter. Finally, MV Capital Management Inc. lifted its stake in shares of FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after purchasing an additional 623 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

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 sale, the chief financial officer now directly owns 133,923 shares in the company, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Wolfe Research cut FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price target for the company. in a report on Monday, April 7th. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. Loop Capital raised their price target on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company raised their price target on FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, FOX presently has an average rating of "Hold" and a consensus price target of $52.71.

FOX Stock Up 1.0%

Shares of NASDAQ FOXA traded up $0.54 on Friday, hitting $55.25. The company had a trading volume of 10,874,099 shares, compared to its average volume of 3,578,286. 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 Corporation has a 12-month low of $33.82 and a 12-month high of $58.74. The business has a 50 day moving average of $52.46 and a two-hundred day moving average of $51.85. The firm has a market capitalization of $24.84 billion, a P/E ratio of 13.74, a PEG ratio of 1.16 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.17. FOX had a return on equity of 17.99% and a net margin of 11.58%. The firm had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.14 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. FOX's revenue for the quarter was up 26.8% compared to the same quarter last year. As a group, equities research analysts forecast that Fox Corporation will post 4.38 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.