Polar Asset Management Partners Inc. Reduces Position in Fox Co. (NASDAQ:FOXA)

Polar Asset Management Partners Inc. lessened its stake in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 28.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,200 shares of the company's stock after selling 42,800 shares during the period. Polar Asset Management Partners Inc.'s holdings in FOX were worth $5,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FOXA. Mackenzie Financial Corp lifted its stake in shares of FOX by 31.8% in the 4th quarter. Mackenzie Financial Corp now owns 14,409 shares of the company's stock valued at $700,000 after purchasing an additional 3,479 shares during the last quarter. Forum Financial Management LP bought a new position in FOX during the 4th quarter worth about $324,000. Castlekeep Investment Advisors LLC purchased a new position in FOX during the fourth quarter valued at approximately $385,000. Peak Retirement Planning Inc. bought a new position in shares of FOX in the 4th quarter worth $900,000. Finally, Invst LLC lifted its position in shares of FOX by 5.2% during the fourth quarter. Invst LLC now owns 18,380 shares of the company's stock valued at $893,000 after buying an additional 909 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

FOX Price Performance

Shares of NASDAQ FOXA traded down $0.06 during trading on Friday, hitting $54.69. The company had a trading volume of 6,991,266 shares, compared to its average volume of 3,514,585. Fox Co. has a fifty-two week low of $32.76 and a fifty-two week high of $58.74. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $51.85 and a two-hundred day simple moving average of $51.10. The firm has a market capitalization of $24.59 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data 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 18.50% and a net margin of 14.39%. The company had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.14 billion. During the same period in the previous year, the firm posted $1.40 EPS. FOX's revenue was up 26.8% compared to the same quarter last year. On average, research analysts expect that Fox Co. will post 4.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on FOX from $49.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Wolfe Research cut FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price target for the company. in a research report on Monday, April 7th. Wells Fargo & Company increased their price objective on FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Finally, UBS Group increased their price target on shares of FOX from $61.00 to $63.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, FOX presently has an average rating of "Hold" and an average target price of $52.71.

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.