Fox Corporation (NASDAQ:FOXA) Stock Position Lifted by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 199.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,806 shares of the company's stock after purchasing an additional 20,531 shares during the quarter. Summit Trail Advisors LLC's holdings in FOX were worth $1,744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FOXA. WealthTrak Capital Management LLC acquired a new stake in shares of FOX in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted its stake 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 buying an additional 262 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after acquiring an additional 249 shares during the period. CIBC Private Wealth Group LLC raised its position in FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after acquiring an additional 368 shares in the last quarter. Finally, MV Capital Management Inc. lifted 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 acquiring an additional 623 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Stock Performance

Shares of FOXA opened at $56.04 on Tuesday. 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 $33.84 and a 12 month high of $58.74. The company's fifty day moving average is $53.52 and its 200-day moving average is $52.38. The firm has a market cap of $25.20 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.20 and a beta of 0.51.

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

Analysts Set New Price Targets

FOXA has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Bank of America boosted their target price on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Guggenheim restated a "buy" rating and set a $62.00 price objective (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. Loop Capital boosted their price target on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, Barclays reiterated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, FOX currently has a consensus rating of "Hold" and an average target price of $53.53.

Insider Activity at FOX

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the company'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 transaction of $2,192,202.60. Following the completion of the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at $7,405,941.90. This represents a 22.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 21.77% of the company's stock.

FOX 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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