Proficio Capital Partners LLC Reduces Stake in Fox Corporation (NASDAQ:FOXA)

Proficio Capital Partners LLC trimmed its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 97.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,314 shares of the company's stock after selling 155,557 shares during the period. Proficio Capital Partners LLC's holdings in FOX were worth $244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC lifted its position in FOX by 8.6% during the 1st quarter. CWM LLC now owns 6,663 shares of the company's stock worth $377,000 after buying an additional 527 shares in the last quarter. CIBC Private Wealth Group LLC increased 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 purchasing an additional 368 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of FOX by 7.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock worth $364,000 after purchasing an additional 464 shares during the last quarter. Private Trust Co. NA grew its stake in FOX by 86.5% in the 1st quarter. Private Trust Co. NA now owns 929 shares of the company's stock valued at $53,000 after buying an additional 431 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in FOX by 152.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after buying an additional 19,181 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Trading Up 0.7%

Shares of FOXA stock traded up $0.40 during trading hours on Friday, hitting $56.67. 2,413,102 shares of the company's stock traded hands, compared to its average volume of 2,979,113. Fox Corporation has a 12 month low of $36.09 and a 12 month high of $58.74. The stock's 50 day simple moving average is $55.41 and its 200 day simple moving average is $53.25. The stock has a market cap of $25.48 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. 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 posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.14 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. The business's quarterly revenue was up 26.8% on a year-over-year basis. During the same period last year, the company posted $1.40 earnings per share. On average, sell-side analysts anticipate that Fox Corporation will post 4.38 EPS for the current year.

Insider Buying and Selling at FOX

In related news, CFO Steven Tomsic sold 39,642 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the transaction, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FOXA shares. Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Guggenheim restated a "buy" rating and set a $62.00 target price (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Bank of America increased their target price on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. UBS Group set a $65.00 target price on shares of FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $53.53.

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.