Sagespring Wealth Partners LLC acquired a new stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,033 shares of the company's stock, valued at approximately $285,000.
Other hedge funds have also recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new stake in shares of FOX in the 1st quarter worth $2,508,000. Janney Montgomery Scott LLC raised its holdings in FOX by 152.1% in the 1st 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 during the period. Optas LLC raised its holdings in FOX by 29.2% in the 1st quarter. Optas LLC now owns 7,395 shares of the company's stock worth $419,000 after purchasing an additional 1,673 shares during the period. Ritholtz Wealth Management raised its holdings in FOX by 153.0% in the 1st quarter. Ritholtz Wealth Management now owns 25,568 shares of the company's stock worth $1,447,000 after purchasing an additional 15,464 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in FOX by 10.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,535 shares of the company's stock worth $653,000 after purchasing an additional 1,067 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.
FOX Price Performance
Shares of FOX stock traded up $0.54 during trading on Friday, reaching $55.25. 10,874,099 shares of the stock traded hands, compared to its average volume of 3,578,287. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.16 and a beta of 0.51. The business has a fifty day simple moving average of $52.59 and a two-hundred day simple moving average of $51.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33. Fox Corporation has a 52-week low of $33.82 and a 52-week high of $58.74.
FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.17. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. The business's quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 earnings per share. Sell-side analysts expect that Fox Corporation will post 4.38 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages recently commented on FOXA. Cowen reaffirmed a "hold" rating on shares of FOX in a report on Tuesday, May 13th. Wolfe Research cut FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price on the stock. in a report on Monday, April 7th. Loop Capital raised their target price on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Finally, Barclays reaffirmed an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, FOX presently has an average rating of "Hold" and a consensus target price of $52.71.
Get Our Latest Stock Report on FOXA
Insider Buying and Selling
In related news, CFO Steven Tomsic sold 5,607 shares of FOX 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 completion of the transaction, the chief financial officer now owns 133,923 shares in the company, valued at approximately $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 21.77% of the stock is currently owned by company insiders.
FOX Company Profile
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Free Report)
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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