Sagespring Wealth Partners LLC Purchases New Shares in Fox Corporation (NASDAQ:FOXA)

Sagespring Wealth Partners LLC bought a new position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,033 shares of the company's stock, valued at approximately $285,000.

Several other large investors also recently modified their holdings of FOXA. CIBC Private Wealth Group LLC grew its position in FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after acquiring an additional 368 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of FOX in the 4th quarter valued at approximately $7,767,000. Captrust Financial Advisors bought a new stake in shares of FOX during the 4th quarter valued at approximately $306,000. Man Group plc acquired a new position in shares of FOX during the fourth quarter worth $3,239,000. Finally, Simon Quick Advisors LLC acquired a new position in shares of FOX during the first quarter worth $432,000. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Stock Up 1.5%

FOX stock traded up $0.83 during midday trading on Monday, reaching $56.08. The stock had a trading volume of 3,155,138 shares, compared to its average volume of 3,569,098. The company has a fifty day moving average price of $52.59 and a two-hundred day moving average price of $51.98. Fox Corporation has a 12 month low of $33.82 and a 12 month high of $58.74. 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 company has a market capitalization of $25.21 billion, a P/E ratio of 13.95, a PEG ratio of 1.17 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The company's quarterly revenue was up 26.8% on a year-over-year basis. As a group, equities analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the transaction, the chief financial officer now owns 133,923 shares of the company's stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 21.77% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Cfra Research upgraded 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 on the stock. in a report on Monday, April 7th. Guggenheim reiterated a "buy" rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Wells Fargo & Company boosted their target price on shares of FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, Cowen reaffirmed a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $52.71.

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.