Manning & Napier Advisors LLC Has $1.67 Million Holdings in Fox Corporation (NASDAQ:FOXA)

Manning & Napier Advisors LLC lessened its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 56.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 29,513 shares of the company's stock after selling 37,519 shares during the quarter. Manning & Napier Advisors LLC's holdings in FOX were worth $1,670,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FOXA. CIBC Private Wealth Group LLC boosted its stake in FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after purchasing an additional 368 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of FOX during the fourth quarter worth $7,767,000. Captrust Financial Advisors bought a new stake in shares of FOX in the fourth quarter valued at about $306,000. Man Group plc bought a new stake in shares of FOX in the fourth quarter valued at about $3,239,000. Finally, Center For Asset Management LLC acquired a new position in shares of FOX in the first quarter valued at about $841,000. Institutional investors and hedge funds own 52.52% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FOXA shares. 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. Wolfe Research cut shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price on the stock. in a report on Monday, April 7th. Barclays reiterated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Guggenheim reissued a "buy" rating and set a $62.00 price target (up previously from $60.00) on shares of FOX in a research report on Wednesday. Finally, UBS Group set a $65.00 price objective on FOX and gave the stock a "buy" rating in a research note on Wednesday. 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $53.53.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the 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 completion of the transaction, the chief financial officer now directly owns 133,923 shares in the company, valued at approximately $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.77% of the stock is currently owned by corporate insiders.

FOX Price Performance

NASDAQ FOXA traded up $0.11 during trading on Friday, hitting $56.79. 3,000,529 shares of the company's stock were exchanged, compared to its average volume of 3,569,779. The company has a market cap of $25.53 billion, a PE ratio of 14.13, a P/E/G ratio of 1.19 and a beta of 0.51. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The stock's 50 day moving average price is $53.17 and its two-hundred day moving average price is $52.17. Fox Corporation has a fifty-two week low of $33.82 and a fifty-two 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, 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 company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the business earned $1.40 earnings per share. The company's revenue for the quarter was up 26.8% compared to the same quarter last year. Research analysts expect that Fox Corporation will post 4.38 EPS for the current year.

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.