WBI Investments LLC Takes Position in Fox Co. (NASDAQ:FOXA)

WBI Investments LLC bought a new stake in Fox Co. (NASDAQ:FOXA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,979 shares of the company's stock, valued at approximately $290,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Two Sigma Investments LP grew its position in FOX by 7.3% during the fourth quarter. Two Sigma Investments LP now owns 27,569 shares of the company's stock valued at $1,339,000 after buying an additional 1,869 shares during the period. Tabor Asset Management LP bought a new position in FOX during the fourth quarter valued at about $1,116,000. Siemens Fonds Invest GmbH bought a new position in FOX during the fourth quarter valued at about $987,000. Sherbrooke Park Advisers LLC grew its position in FOX by 33.2% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 20,852 shares of the company's stock valued at $1,013,000 after buying an additional 5,201 shares during the period. Finally, Rafferty Asset Management LLC grew its position in FOX by 10.7% during the fourth quarter. Rafferty Asset Management LLC now owns 19,201 shares of the company's stock valued at $933,000 after buying an additional 1,862 shares during the period. Institutional investors own 52.52% of the company's stock.

FOX Trading Down 0.5%

Shares of FOXA opened at $55.81 on Tuesday. The firm's 50 day simple moving average is $51.41 and its 200 day simple moving average is $50.50. The company has a market capitalization of $25.09 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a 1-year low of $32.51 and a 1-year high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX's quarterly revenue was up 26.8% on a year-over-year basis. During the same period last year, the firm posted $1.40 earnings per share. Sell-side analysts forecast that Fox Co. will post 4.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at $63,849,832.54. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 21.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FOXA. Cowen restated a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. UBS Group increased their target price on shares of FOX from $61.00 to $63.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group set a $60.00 target price on shares of FOX and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Wolfe Research lowered shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price for the company. in a research report on Monday, April 7th. Finally, Guggenheim reiterated a "buy" rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, FOX currently has a consensus rating of "Hold" and a consensus target price of $52.71.

FOX 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.