SG Americas Securities LLC Purchases 339,455 Shares of Fox Co. (NASDAQ:FOXA)

SG Americas Securities LLC grew its holdings in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 3,733.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 348,548 shares of the company's stock after buying an additional 339,455 shares during the period. SG Americas Securities LLC owned 0.08% of FOX worth $19,728,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new position in shares of FOX during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. increased its stake in shares of FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after buying an additional 262 shares during the period. Jones Financial Companies Lllp increased its stake in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after buying an additional 249 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after buying an additional 368 shares during the period. Finally, Sentry Investment Management LLC purchased a new position in shares of FOX during the first quarter valued at approximately $43,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Down 1.5%

FOX stock traded down $0.84 during mid-day trading on Thursday, hitting $53.82. The company had a trading volume of 3,983,832 shares, compared to its average volume of 3,531,723. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The stock's 50 day moving average price is $51.96 and its two-hundred day moving average price is $51.58. Fox Co. has a 12 month low of $32.76 and a 12 month high of $58.74. The company has a market capitalization of $24.20 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly 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. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company's quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, sell-side analysts anticipate that Fox Co. will post 4.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 transaction of $310,459.59. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 21.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Loop Capital boosted their target price on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Wells Fargo & Company lifted their price target on FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. UBS Group lifted their price target on FOX from $61.00 to $63.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Finally, Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $52.71.

About FOX

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.