Tabor Asset Management LP Raises Stake in Fox Corporation (NASDAQ:FOXA)

Tabor Asset Management LP grew its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 26.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,159 shares of the company's stock after acquiring an additional 6,190 shares during the period. Tabor Asset Management LP's holdings in FOX were worth $1,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC raised its position in shares of FOX by 122.3% in the 4th 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 during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of FOX by 7.8% in the first quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock worth $364,000 after acquiring an additional 464 shares during the period. Private Trust Co. NA increased its stake in shares of FOX by 86.5% in the first quarter. Private Trust Co. NA now owns 929 shares of the company's stock worth $53,000 after acquiring an additional 431 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of FOX by 152.1% in the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock worth $1,800,000 after acquiring an additional 19,181 shares during the period. Finally, Summit Trail Advisors LLC increased its stake in shares of FOX by 199.8% in the first quarter. Summit Trail Advisors LLC now owns 30,806 shares of the company's stock worth $1,744,000 after acquiring an additional 20,531 shares during the period. 52.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group set a $65.00 target price on shares of FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. Cowen reaffirmed a "hold" rating on shares of FOX in a report on Tuesday, May 13th. Barclays reaffirmed an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Cfra Research lowered shares of FOX from a "moderate buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Morgan Stanley boosted their price target on shares of FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $53.53.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the firm's stock in a transaction on 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 sale, the chief financial officer owned 133,923 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 21.77% of the company's stock.

FOX Stock Performance

Shares of NASDAQ FOXA traded down $0.65 during mid-day trading on Monday, hitting $55.60. 221,198 shares of the company were exchanged, compared to its average volume of 3,619,603. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $55.27 and a 200-day simple moving average of $53.03. Fox Corporation has a 1-year low of $36.09 and a 1-year high of $58.74. The firm has a market cap of $25.00 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.26 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 for the quarter, topping 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 period last year, the company earned $1.40 earnings per share. The company's revenue for the quarter was up 26.8% on a year-over-year basis. On average, sell-side analysts forecast that Fox Corporation will post 4.38 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.