Simon Quick Advisors LLC Makes New Investment in Fox Co. (NASDAQ:FOXA)

Simon Quick Advisors LLC purchased a new stake in Fox Co. (NASDAQ:FOXA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,641 shares of the company's stock, valued at approximately $432,000.

Other institutional investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its holdings in shares of 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 purchasing an additional 368 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of FOX by 25.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company's stock valued at $5,856,000 after acquiring an additional 23,704 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of FOX in the fourth quarter valued at about $7,767,000. Captrust Financial Advisors acquired a new stake in shares of FOX in the fourth quarter valued at about $306,000. Finally, Man Group plc acquired a new stake in shares of FOX in the fourth quarter valued at about $3,239,000. 52.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Guggenheim reaffirmed a "buy" rating and issued a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Morgan Stanley lifted their target price on FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. UBS Group lifted their target price on FOX from $61.00 to $63.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, Wolfe Research lowered FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price objective on the stock. in a research note on Monday, April 7th. Two investment 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. According to MarketBeat.com, FOX has a consensus rating of "Hold" and an average price target of $52.71.

Insider Buying and Selling

In related news, CFO Steven Tomsic sold 5,607 shares of the 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 sale, the chief financial officer now owns 133,923 shares of the company's stock, valued at $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 21.77% of the stock is currently owned by company insiders.

FOX Stock Performance

Shares of FOX stock traded down $0.13 on Friday, hitting $53.69. The stock had a trading volume of 2,349,659 shares, compared to its average volume of 3,532,325. Fox Co. has a twelve month low of $32.76 and a twelve month high of $58.74. The business's 50 day moving average is $52.09 and its two-hundred day moving average is $51.63. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. The business 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 firm's quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.40 earnings per share. Analysts forecast that Fox Co. will post 4.38 EPS for the current year.

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.