Virtu Financial LLC Boosts Position in Fox Corporation (NASDAQ:FOX)

Key Points

• Virtu Financial LLC increased its stake in Fox Corporation by 364.4% in the first quarter, acquiring a total of 296,316 shares worth approximately $15.62 million.
• Multiple institutional investors, including Federated Hermes Inc. and PNC Financial Services Group Inc., have also raised their positions in Fox Corporation during the same period.
• Fox Corporation announced a $0.28 per share dividend to be paid on September 24th, with a payout ratio of 11.41%.

Virtu Financial LLC increased its holdings in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 364.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,316 shares of the company's stock after acquiring an additional 232,508 shares during the period. FOX makes up 0.8% of Virtu Financial LLC's investment portfolio, making the stock its 11th largest holding. Virtu Financial LLC owned about 0.07% of FOX worth $15,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. grew its position in FOX by 66.2% during the 1st quarter. Federated Hermes Inc. now owns 580 shares of the company's stock valued at $31,000 after purchasing an additional 231 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of FOX by 457.6% in the first quarter. IFP Advisors Inc now owns 697 shares of the company's stock worth $37,000 after buying an additional 572 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of FOX by 82.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company's stock valued at $61,000 after buying an additional 608 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of FOX by 327.3% during the first quarter. Versant Capital Management Inc now owns 1,346 shares of the company's stock valued at $71,000 after buying an additional 1,031 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of FOX by 37.0% during the first quarter. Covestor Ltd now owns 1,402 shares of the company's stock valued at $74,000 after acquiring an additional 379 shares in the last quarter. Institutional investors own 26.41% of the company's stock.

FOX Stock Up 5.1%

FOX stock traded up $2.63 during midday trading on Wednesday, hitting $53.78. The company's stock had a trading volume of 840,565 shares, compared to its average volume of 1,235,692. The firm's 50-day moving average is $50.82 and its 200-day moving average is $49.83. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. Fox Corporation has a 12 month low of $35.89 and a 12 month high of $55.00. The company has a market cap of $24.18 billion, a PE ratio of 10.95, a P/E/G ratio of 1.22 and a beta of 0.58.

FOX (NASDAQ:FOX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.24. FOX had a return on equity of 18.86% and a net margin of 13.88%. The firm had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. On average, equities research analysts forecast that Fox Corporation will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently declared a half year 25 dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is presently 11.41%.

Insider Activity

In other news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 23.06% of the stock is currently owned by insiders.

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.