World Investment Advisors Acquires Shares of 13,635 Fox Corporation (NASDAQ:FOXA)

World Investment Advisors bought a new stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,635 shares of the company's stock, valued at approximately $772,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. DnB Asset Management AS lifted its holdings in FOX by 0.6% in the 4th quarter. DnB Asset Management AS now owns 44,063 shares of the company's stock valued at $2,141,000 after purchasing an additional 245 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after acquiring an additional 249 shares during the last quarter. US Bancorp DE increased its stake in shares of FOX by 2.0% in the 4th quarter. US Bancorp DE now owns 14,520 shares of the company's stock worth $705,000 after acquiring an additional 281 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of FOX by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 25,521 shares of the company's stock worth $1,444,000 after acquiring an additional 305 shares during the last quarter. Finally, GeoWealth Management LLC increased its stake in shares of FOX by 32.4% in the 4th quarter. GeoWealth Management LLC now owns 1,448 shares of the company's stock worth $70,000 after acquiring an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Insiders Place Their Bets

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 21.77% of the stock is currently owned by company insiders.

FOX Price Performance

Shares of FOXA stock traded up $1.52 during mid-day trading on Thursday, hitting $56.73. 5,008,330 shares of the stock traded hands, compared to its average volume of 3,619,889. Fox Corporation has a twelve month low of $35.43 and a twelve month high of $58.74. The firm has a market cap of $25.51 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.23 and a beta of 0.51. The company's 50-day simple moving average is $54.41 and its 200-day simple moving average is $52.66. 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 issued its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.93 by $0.17. The business had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. FOX's revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.40 earnings per share. As a group, equities research analysts expect that Fox Corporation will post 4.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group set a $65.00 target price on FOX and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Loop Capital raised their target price on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Cfra Research downgraded FOX from a "moderate buy" rating to a "hold" rating in a research note on Friday, June 27th. Guggenheim reissued a "buy" rating and set a $62.00 price objective (up from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Finally, Cowen reissued a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $53.53.

About FOX

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.