Kingsview Wealth Management LLC decreased its holdings in Fox Corporation (NASDAQ:FOXA - Free Report) by 30.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,211 shares of the company's stock after selling 21,142 shares during the quarter. Kingsview Wealth Management LLC's holdings in FOX were worth $2,785,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of FOX during the 4th quarter valued at about $10,918,000. Avantax Advisory Services Inc. purchased a new position in shares of FOX during the 4th quarter valued at about $320,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of FOX during the 4th quarter valued at about $206,000. Corient Private Wealth LLC raised its stake in shares of FOX by 2.6% during the 4th quarter. Corient Private Wealth LLC now owns 19,546 shares of the company's stock valued at $950,000 after buying an additional 497 shares during the last quarter. Finally, Xponance Inc. raised its stake in shares of FOX by 1.7% during the 4th quarter. Xponance Inc. now owns 39,708 shares of the company's stock valued at $1,929,000 after buying an additional 652 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on FOXA shares. UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. Cowen reaffirmed a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Barclays reaffirmed an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. Finally, Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, FOX presently has an average rating of "Hold" and an average price target of $53.53.
Check Out Our Latest Stock Report on FOX
FOX Stock Performance
FOXA stock traded down $0.14 during trading on Friday, hitting $56.25. The company had a trading volume of 2,159,941 shares, compared to its average volume of 3,632,533. The firm has a market cap of $25.29 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.26 and a beta of 0.51. Fox Corporation has a 1-year low of $36.09 and a 1-year high of $58.74. The firm has a 50-day moving average price of $55.27 and a 200-day moving average price of $52.97. 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 (NASDAQ:FOXA - Get Free Report) last released 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 company had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.14 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The firm's quarterly revenue was up 26.8% on a year-over-year basis. On average, analysts expect that Fox Corporation will post 4.38 earnings per share for the current year.
Insider Transactions at FOX
In related 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 value of $2,192,202.60. Following the sale, the chief financial officer owned 133,923 shares in the company, valued at $7,405,941.90. This represents a 22.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 21.77% of the company's stock.
About FOX
(
Free Report)
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.
Further Reading
Before you consider FOX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FOX wasn't on the list.
While FOX currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
