Meridiem Capital Partners LP Invests $3.92 Million in Fox Co. (NASDAQ:FOXA)

Meridiem Capital Partners LP bought a new position in Fox Co. (NASDAQ:FOXA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 80,699 shares of the company's stock, valued at approximately $3,920,000.

Several other hedge funds have also modified their holdings of FOXA. Franklin Resources Inc. lifted its position in FOX by 108.4% during the third quarter. Franklin Resources Inc. now owns 177,342 shares of the company's stock valued at $7,369,000 after acquiring an additional 92,244 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of FOX by 0.4% during the third quarter. Principal Financial Group Inc. now owns 291,051 shares of the company's stock worth $12,320,000 after purchasing an additional 1,178 shares in the last quarter. Czech National Bank lifted its holdings in shares of FOX by 4.8% during the 4th quarter. Czech National Bank now owns 47,951 shares of the company's stock valued at $2,329,000 after purchasing an additional 2,189 shares during the last quarter. Brookstone Capital Management purchased a new stake in shares of FOX during the 4th quarter valued at $492,000. Finally, Kathmere Capital Management LLC boosted its position in shares of FOX by 9.0% in the 4th quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company's stock worth $255,000 after purchasing an additional 431 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Performance

NASDAQ:FOXA traded up $0.62 during trading hours on Friday, reaching $56.08. The company had a trading volume of 3,573,062 shares, compared to its average volume of 3,481,148. 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 $32.50 and a 1-year high of $58.74. The business's 50 day moving average price is $51.27 and its 200-day moving average price is $50.19. The firm has a market cap of $25.43 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.17. The firm had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business's revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.40 EPS. Research analysts forecast that Fox Co. will post 4.38 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FOXA shares. Guggenheim reaffirmed a "buy" rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. JPMorgan Chase & Co. increased their price objective on shares of FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Morgan Stanley lifted their target price on shares of FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Barclays restated an "outperform" rating on shares of FOX in a research note on Tuesday. 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 data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $52.71.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at $63,849,832.54. This represents a 4.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 21.77% of the company's stock.

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.