Janney Montgomery Scott LLC Acquires 19,181 Shares of Fox Corporation (NASDAQ:FOXA)

Janney Montgomery Scott LLC raised its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 152.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,794 shares of the company's stock after acquiring an additional 19,181 shares during the quarter. Janney Montgomery Scott LLC's holdings in FOX were worth $1,800,000 at the end of the most recent quarter.

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

FOX Stock Down 1.3%

NASDAQ:FOXA traded down $0.75 on Monday, reaching $56.04. 4,034,327 shares of the stock traded hands, compared to its average volume of 3,580,167. Fox Corporation has a 12 month low of $33.84 and a 12 month high of $59.46. The company has a market capitalization of $25.20 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.20 and a beta of 0.51. The company's fifty day simple moving average is $53.34 and its 200 day simple moving average is $52.32. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results 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 net margin of 11.58% and a return on equity of 17.99%. The business 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 business earned $1.40 EPS. The business's revenue for the quarter was up 26.8% compared to the same quarter last year. Equities analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.

Insider Transactions at FOX

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were 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 directly owned 133,923 shares in the company, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Barclays reaffirmed an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Bank of America increased 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 issued a $62.00 target price (up previously from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Finally, Wolfe Research cut FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price target on the stock. in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.