Gamco Investors INC. ET AL Boosts Stake in Fox Corporation $FOX

Key Points

• Gamco Investors increased its stake in Fox Corporation by 10% in the first quarter, adding 53,166 shares to bring its total to 585,183 shares worth about $31.1 million.
• Other institutional investors also made large moves in FOX, and overall 26.41% of the stock is owned by hedge funds and institutions.
• Wall Street sentiment is still fairly positive: FOX has a Moderate Buy consensus rating with an average price target of $74.33, while the stock recently traded at $49.41.

Gamco Investors INC. ET AL boosted its stake in Fox Corporation (NASDAQ:FOX - Free Report) by 10.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 585,183 shares of the company's stock after purchasing an additional 53,166 shares during the period. Gamco Investors INC. ET AL owned about 0.14% of FOX worth $31,073,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FOX. Marshall Wace LLP raised its holdings in shares of FOX by 792.4% in the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company's stock valued at $182,448,000 after buying an additional 2,827,768 shares during the period. SG Americas Securities LLC lifted its position in shares of FOX by 2,459.6% during the fourth quarter. SG Americas Securities LLC now owns 413,037 shares of the company's stock worth $26,818,000 after purchasing an additional 396,900 shares in the last quarter. Pinebridge Investments LLC purchased a new position in shares of FOX in the fourth quarter valued at approximately $13,758,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in FOX during the 1st quarter worth approximately $9,328,000. Finally, Jane Street Group LLC lifted its holdings in FOX by 427.0% during the 1st quarter. Jane Street Group LLC now owns 97,261 shares of the company's stock worth $5,127,000 after buying an additional 78,804 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FOX. Zacks Research cut FOX from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Citigroup reiterated a "buy" rating on shares of FOX in a research note on Friday, July 17th. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX in a research report on Friday, July 10th. Finally, Weiss Ratings cut shares of FOX from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.33.

FOX News Roundup

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox News continued to generate attention with high-traffic coverage of major political, international, and U.S. crime stories, including Iran, Trump, and antisemitic violence-related reporting, which can help support viewer engagement and advertising demand. Fox News coverage
• Neutral Sentiment: FOX was cited in a short-interest update, but the data showed 0 shares of short interest and a 0.0 days-to-cover ratio, so the report does not provide a meaningful new trading signal.
• Neutral Sentiment: Additional Fox News articles covered developments such as a CDC investigation into Ohio cyclosporiasis cases, a controversy involving an Oklahoma state agency attorney, and other local and national news items, reinforcing the network’s broad news flow but without a clear direct impact on FOX’s fundamentals.

FOX Price Performance

Shares of FOX opened at $49.41 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. Fox Corporation has a 1-year low of $44.08 and a 1-year high of $68.18. The stock has a market cap of $20.76 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.40 and a beta of 0.57. The firm has a fifty day moving average price of $52.64 and a 200 day moving average price of $55.66.

FOX (NASDAQ:FOX - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.30. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%. As a group, sell-side analysts anticipate that Fox Corporation will post 4.78 EPS for the current year.

FOX Profile

Fox Corporation NASDAQ: FOX is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX's core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.

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