Jupiter Asset Management Ltd. Sells 435,952 Shares of Fox Corporation (NASDAQ:FOXA)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Fox Corporation by 31.4%, selling 435,952 shares and now owning about 0.21% of the company, valued at approximately $53.9 million.
• Several institutional investors have increased their holdings in Fox, with notable boosts from CIBC Private Wealth Group LLC and MV Capital Management Inc., showing growing institutional interest in the stock.
• The latest analyst ratings for Fox Corporation include a mix of upgrades and downgrades, with a consensus target price of $53.53 and a current average rating of "Hold."

Jupiter Asset Management Ltd. reduced its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 31.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 952,906 shares of the company's stock after selling 435,952 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.21% of FOX worth $53,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CIBC Private Wealth Group LLC boosted its stake in FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after buying an additional 368 shares during the last quarter. MV Capital Management Inc. raised its holdings in shares of FOX by 929.9% during the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after acquiring an additional 623 shares in the last quarter. Sentry Investment Management LLC bought a new position in shares of FOX during the 1st quarter valued at approximately $43,000. Allworth Financial LP boosted its position in shares of FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock valued at $45,000 after acquiring an additional 280 shares during the last quarter. Finally, TCTC Holdings LLC increased its position in FOX by 112.5% in the first quarter. TCTC Holdings LLC now owns 797 shares of the company's stock worth $45,000 after purchasing an additional 422 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

Insiders Place Their Bets

In other FOX news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the transaction, the chief financial officer owned 133,923 shares in the company, valued at $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on FOXA. Loop Capital increased their price objective on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. UBS Group set a $65.00 price target on shares of FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. Cfra Research cut FOX from a "moderate buy" rating to a "hold" rating in a research note on Friday, June 27th. Barclays reaffirmed an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Finally, Cowen restated a "hold" rating on shares of FOX in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, FOX presently has an average rating of "Hold" and a consensus target price of $53.53.

FOX Stock Performance

Shares of FOXA stock opened at $55.54 on Friday. The company's 50 day moving average is $55.44 and its 200 day moving average is $53.46. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The firm has a market cap of $24.97 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.25 and a beta of 0.54. 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 announced its quarterly earnings results 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 business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. The business's revenue was up 26.8% compared to the same quarter last year. During the same period last year, the business posted $1.40 EPS. On average, sell-side analysts anticipate that Fox Corporation will post 4.38 EPS for the current fiscal year.

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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