Fox Corporation (NASDAQ:FOXA) Shares Sold by Foundry Partners LLC

Foundry Partners LLC lessened its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 4.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 364,937 shares of the company's stock after selling 17,729 shares during the quarter. FOX accounts for approximately 1.1% of Foundry Partners LLC's portfolio, making the stock its 23rd biggest position. Foundry Partners LLC owned approximately 0.08% of FOX worth $20,655,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FOXA. WealthTrak Capital Management LLC purchased a new position in shares of FOX in the 4th quarter worth about $26,000. CIBC Private Wealth Group LLC raised 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 acquiring an additional 368 shares in the last quarter. MV Capital Management Inc. grew its holdings in 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 buying an additional 623 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in FOX in the 1st quarter valued at $43,000. Finally, Allworth Financial LP raised its position in shares of FOX by 55.2% during the first quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after acquiring an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Insider Transactions at FOX

In other news, CFO Steven Tomsic sold 39,642 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total value of $2,192,202.60. Following the transaction, the chief financial officer owned 133,923 shares in the company, valued at $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.77% of the company's stock.

FOX Trading Down 0.2%

Shares of NASDAQ:FOXA opened at $56.25 on Friday. The stock has a market capitalization of $25.29 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45. The stock's 50-day simple moving average is $55.27 and its two-hundred day simple moving average is $52.97. Fox Corporation has a 52-week low of $36.09 and a 52-week high of $58.74.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on FOXA. Loop Capital lifted their target price on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Barclays reissued an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Morgan Stanley upped their price objective on FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. UBS Group set a $65.00 price target on shares of FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Cfra Research downgraded shares of FOX from a "moderate buy" rating to a "hold" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, FOX presently has an average rating of "Hold" and an average target price of $53.53.

About FOX

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.

Want to see what other hedge funds are holding FOXA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fox Corporation (NASDAQ:FOXA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.