Nisa Investment Advisors LLC Buys New Position in Fox Corporation $FOXA

Key Points

• Nisa Investment Advisors initiated a position in Fox Corporation, purchasing 16,742 shares worth approximately $1.05 million. Institutional investors and hedge funds collectively own 52.52% of FOXA.
• Analyst sentiment remains moderately positive, with FOXA carrying a consensus “Moderate Buy” rating and an average price target of $78.12, despite mixed recent upgrades and downgrades.
• Fox reported quarterly EPS of $1.79, exceeding estimates of $1.44, while revenue rose 28.1% year over year to $4.21 billion. Shares opened at $65.33, below the consensus target.

Nisa Investment Advisors LLC bought a new position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 16,742 shares of the company's stock, valued at approximately $1,049,000.

Other hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of FOX during the third quarter worth $44,000. Elevation Wealth Partners LLC raised its stake in shares of FOX by 811.0% in the third quarter. Elevation Wealth Partners LLC now owns 911 shares of the company's stock valued at $57,000 after acquiring an additional 811 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in FOX by 2,503.4% in the second quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company's stock valued at $80,000 after purchasing an additional 1,477 shares during the period. Wilkerson Advisory Group LLC boosted its holdings in FOX by 50.6% in the first quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company's stock valued at $84,000 after purchasing an additional 482 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in FOX by 20.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company's stock valued at $85,000 after purchasing an additional 251 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FOXA has been the topic of several recent research reports. Jefferies Financial Group downgraded FOX to a "hold" rating in a report on Friday, October 16th. Zacks Research raised FOX from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Weiss Ratings upgraded FOX from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, September 29th. Seaport Research Partners downgraded FOX from a "buy" rating to a "neutral" rating in a research report on Friday, August 7th. Finally, Citizens Jmp started coverage on shares of FOX in a research note on Monday, September 14th. They set a "market outperform" rating and a $95.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, FOX has a consensus rating of "Moderate Buy" and a consensus price target of $78.12.

FOX Stock Down 1.9%

Shares of NASDAQ FOXA opened at $65.33 on Tuesday. The company has a market capitalization of $27.42 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.16 and a beta of 0.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The business has a 50-day moving average of $65.53 and a two-hundred day moving average of $62.58. Fox Corporation has a 1 year low of $48.34 and a 1 year high of $76.39.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The business's revenue for the quarter was up 28.1% on a year-over-year basis. On average, analysts forecast that Fox Corporation will post 6.06 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, September 2nd. This represents a yield of 86.0%. FOX's payout ratio is presently 15.14%.

Insider Transactions at FOX

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the acquisition, the chief executive officer directly owned 1,401,713 shares of the company's stock, valued at $96,059,391.89. This trade represents a 11.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.89% of the stock is owned by company insiders.

About FOX

Fox Corporation NASDAQ: FOXA is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.

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