Transmarket Holdings LP Buys 50,108 Shares of Fox Corporation $FOX

Key Points

• Transmarket Holdings LP acquired 50,108 Fox shares worth approximately $2.82 million in the third quarter, making FOX its 13th-largest holding and about 1.6% of its portfolio.
• Analyst sentiment is broadly positive: FOX has a consensus “Buy” rating and an average price target of $78.40, with several firms recently upgrading or reaffirming bullish ratings.
• FOX reported quarterly earnings of $1.79 per share, exceeding estimates of $1.44, while revenue reached $4.21 billion versus the $3.64 billion consensus forecast.

Transmarket Holdings LP bought a new position in Fox Corporation (NASDAQ:FOX - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 50,108 shares of the company's stock, valued at approximately $2,821,000. FOX makes up approximately 1.6% of Transmarket Holdings LP's investment portfolio, making the stock its 13th largest holding.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of FOX by 42.3% during the second quarter. Versant Capital Management Inc now owns 844 shares of the company's stock valued at $40,000 after purchasing an additional 251 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in FOX in the 2nd quarter worth about $70,000. Glenmede Trust Co. NA increased its holdings in FOX by 143.9% in the 1st quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company's stock worth $143,000 after buying an additional 1,591 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in FOX by 27.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company's stock worth $151,000 after buying an additional 613 shares during the last quarter. Finally, CX Institutional raised its position in FOX by 54.4% in the 3rd quarter. CX Institutional now owns 2,898 shares of the company's stock worth $163,000 after buying an additional 1,021 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FOX. JPMorgan Chase & Co. upgraded shares of FOX from a "neutral" rating to an "overweight" rating and upped their target price for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX in a research note on Friday, July 10th. Zacks Research raised shares of FOX from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 6th. Citigroup restated a "market outperform" rating on shares of FOX in a research report on Tuesday, October 20th. Finally, Guggenheim restated a "buy" rating on shares of FOX in a report on Tuesday, August 25th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $78.40.

FOX Stock Performance

Shares of FOX opened at $56.35 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. Fox Corporation has a one year low of $44.08 and a one year high of $68.18. The firm has a market capitalization of $23.65 billion, a P/E ratio of 14.71, a PEG ratio of 1.48 and a beta of 0.63. The business has a fifty day moving average of $58.29 and a 200 day moving average of $56.10.

FOX (NASDAQ:FOX - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. As a group, sell-side analysts anticipate that Fox Corporation will post 6.23 EPS for the current year.

FOX Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were paid a dividend of $0.29 per share. This represents a dividend yield of 96.0%. The ex-dividend date was Wednesday, September 2nd. FOX's dividend payout ratio (DPR) is currently 15.14%.

Insider Buying and Selling at FOX

In other FOX news, CEO Lachlan Murdoch acquired 149,934 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the transaction, the chief executive officer directly owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 23.06% of the stock is owned by corporate insiders.

About FOX

Fox Corporation NASDAQ: FOX is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox's entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.

The company's FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.

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