Strategic Investment Advisors MI Purchases 40,701 Shares of Fox Corporation (NASDAQ:FOXA)

Strategic Investment Advisors MI boosted its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 743.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,178 shares of the company's stock after purchasing an additional 40,701 shares during the quarter. Strategic Investment Advisors MI's holdings in FOX were worth $2,614,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FOXA. Global Retirement Partners LLC increased its holdings in FOX by 54.6% in the 4th quarter. Global Retirement Partners LLC now owns 1,918 shares of the company's stock valued at $93,000 after buying an additional 677 shares during the period. Ieq Capital LLC bought a new stake in FOX during the 4th quarter worth about $201,000. Handelsbanken Fonder AB grew its holdings in FOX by 184.1% during the 4th quarter. Handelsbanken Fonder AB now owns 41,704 shares of the company's stock worth $2,026,000 after acquiring an additional 27,024 shares during the last quarter. Denali Advisors LLC bought a new stake in FOX during the 4th quarter worth about $804,000. Finally, Proficio Capital Partners LLC bought a new stake in FOX during the 4th quarter worth about $7,767,000. Institutional investors own 52.52% of the company's stock.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction dated Wednesday, June 4th. The shares were 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 of the company's stock, valued at $7,415,316.51. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 21.77% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. UBS Group set a $65.00 price objective on shares of FOX and gave the stock a "buy" rating in a report on Wednesday. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Cowen restated a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company upped their target price on shares of FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, FOX presently has an average rating of "Hold" and an average price target of $53.53.

FOX Stock Up 0.2%

FOX stock traded up $0.11 during mid-day trading on Friday, reaching $56.79. The company's stock had a trading volume of 3,737,562 shares, compared to its average volume of 3,575,409. The company has a market capitalization of $25.53 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.51. Fox Corporation has a 12 month low of $33.84 and a 12 month high of $58.74. The business's 50 day simple moving average is $53.34 and its 200 day simple moving average is $52.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results 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 business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. The firm's revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 earnings per share. As a group, research analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current year.

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.