Y Intercept Hong Kong Ltd Takes $372,000 Position in Fox Corporation (NASDAQ:FOX)

Key Points

• Y Intercept Hong Kong Ltd acquired 7,051 shares of Fox Corporation, valued at approximately $372,000, indicating increased institutional interest in the company during the first quarter.
• Other institutional investors showed significant movements, such as Allianz Asset Management raising its stake by 187.5% and Wealthfront Advisers increasing its position by 690.4%.
• Fox Corporation reported $1.10 EPS for the last quarter, exceeding analysts' estimates and achieving a net margin of 11.58%.

Y Intercept Hong Kong Ltd bought a new position in Fox Corporation (NASDAQ:FOX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,051 shares of the company's stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FOX. Vanguard Group Inc. raised its holdings in shares of FOX by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,336,198 shares of the company's stock valued at $655,738,000 after acquiring an additional 425,868 shares in the last quarter. Independent Franchise Partners LLP boosted its position in shares of FOX by 15.4% during the fourth quarter. Independent Franchise Partners LLP now owns 5,706,386 shares of the company's stock valued at $261,010,000 after buying an additional 759,874 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of FOX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,224,397 shares of the company's stock valued at $147,122,000 after buying an additional 114,442 shares during the last quarter. Norges Bank purchased a new stake in shares of FOX during the fourth quarter valued at $138,822,000. Finally, Dimensional Fund Advisors LP boosted its position in FOX by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,468,268 shares of the company's stock worth $112,908,000 after purchasing an additional 131,018 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company's stock.

Insider Buying and Selling at FOX

In related 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 sale, the chief financial officer directly owned 133,923 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 23.06% of the company's stock.

FOX Stock Performance

Shares of FOX stock traded down $0.61 during trading hours on Tuesday, reaching $51.31. 711,157 shares of the company traded hands, compared to its average volume of 872,186. The firm has a 50-day moving average price of $50.89 and a 200 day moving average price of $49.51. The company has a market cap of $23.07 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.17 and a beta of 0.56. Fox Corporation has a 12-month low of $33.72 and a 12-month high of $55.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33.

FOX (NASDAQ:FOX - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.96 by $0.14. FOX had a return on equity of 17.99% and a net margin of 11.58%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.19 billion. As a group, sell-side analysts predict that Fox Corporation will post 4.25 earnings per share for the current fiscal year.

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.