Price Capital Management Inc. Acquires New Holdings in Fox Corporation (NASDAQ:FOXA)

Price Capital Management Inc. purchased a new stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 27,420 shares of the company's stock, valued at approximately $1,552,000. FOX makes up about 3.9% of Price Capital Management Inc.'s investment portfolio, making the stock its largest position.

A number of other hedge funds also recently made changes to their positions in FOXA. CIBC Private Wealth Group LLC grew its stake in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after acquiring an additional 368 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in FOX by 7.8% during the first quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock valued at $364,000 after purchasing an additional 464 shares during the last quarter. Private Trust Co. NA boosted its position in FOX by 86.5% during the first quarter. Private Trust Co. NA now owns 929 shares of the company's stock worth $53,000 after purchasing an additional 431 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of FOX by 152.1% in the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock worth $1,800,000 after purchasing an additional 19,181 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its position in shares of FOX by 199.8% in the first quarter. Summit Trail Advisors LLC now owns 30,806 shares of the company's stock valued at $1,744,000 after purchasing an additional 20,531 shares during the period. 52.52% of the stock is currently owned by institutional investors.

FOX Trading Up 0.8%

NASDAQ FOXA opened at $55.91 on Wednesday. The company's 50-day simple moving average is $55.27 and its two-hundred day simple moving average is $53.03. Fox Corporation has a one year low of $36.09 and a one year high of $58.74. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45.

FOX (NASDAQ:FOXA - Get Free Report) last announced its 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. FOX had a return on equity of 17.99% and a net margin of 11.58%. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.14 billion. The business's revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. Equities analysts forecast that Fox Corporation will post 4.38 EPS for the current fiscal year.

Insider Transactions at FOX

In other 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 transaction, the chief financial officer owned 133,923 shares in the company, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.77% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on FOXA. Wells Fargo & Company raised their price objective on shares of FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Morgan Stanley raised their price objective on FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Loop Capital lifted their price target on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Barclays reiterated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Finally, Bank of America raised their target price on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $53.53.

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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