Mirae Asset Global Investments Co. Ltd. Sells 7,005 Shares of Fox Corporation (NASDAQ:FOXA)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 6.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,897 shares of the company's stock after selling 7,005 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in FOX were worth $5,581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FOXA. Dimensional Fund Advisors LP increased its holdings in shares of FOX by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company's stock valued at $185,344,000 after purchasing an additional 39,959 shares in the last quarter. Northern Trust Corp lifted its holdings in FOX by 17.1% during the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock worth $170,111,000 after buying an additional 511,554 shares in the last quarter. Norges Bank bought a new position in FOX in the 4th quarter valued at $132,161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of FOX by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company's stock valued at $130,043,000 after buying an additional 219,016 shares during the period. Finally, Amundi raised its position in shares of FOX by 9.9% during the fourth quarter. Amundi now owns 2,434,443 shares of the company's stock worth $119,006,000 after acquiring an additional 219,380 shares during the last quarter. 52.52% of the stock is owned by institutional investors.

FOX Trading Down 1.5%

NASDAQ:FOXA traded down $0.84 during midday trading on Wednesday, reaching $55.13. 3,520,360 shares of the stock traded hands, compared to its average volume of 3,592,954. The stock has a market capitalization of $24.79 billion, a P/E ratio of 13.71, a PEG ratio of 1.19 and a beta of 0.51. Fox Corporation has a 12 month low of $33.84 and a 12 month high of $58.74. 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 company has a fifty day moving average of $53.68 and a 200 day moving average of $52.41.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The business's revenue was up 26.8% compared to the same quarter last year. On average, research analysts predict that Fox Corporation will post 4.38 EPS for the current year.

Insider Buying and Selling

In related 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 owned 133,923 shares in the company, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group set a $65.00 target price on shares of FOX and gave the stock a "buy" rating in a report on Wednesday, June 25th. Cfra Research downgraded shares of FOX from a "moderate buy" rating to a "hold" rating in a research note on Friday, June 27th. Cowen restated a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Barclays reissued an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Finally, Wolfe Research lowered FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price target on the stock. in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $53.53.

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.