Redwood Investment Management LLC Buys Shares of 29,269 Fox Co. (NASDAQ:FOXA)

Redwood Investment Management LLC bought a new position in shares of Fox Co. (NASDAQ:FOXA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 29,269 shares of the company's stock, valued at approximately $1,422,000.

Several other institutional investors have also recently bought and sold shares of the business. DnB Asset Management AS increased its stake in shares of FOX by 0.6% in the fourth quarter. DnB Asset Management AS now owns 44,063 shares of the company's stock valued at $2,141,000 after buying an additional 245 shares during the period. Jones Financial Companies Lllp boosted its holdings in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after acquiring an additional 249 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after acquiring an additional 262 shares during the last quarter. US Bancorp DE boosted its holdings in FOX by 2.0% in the fourth quarter. US Bancorp DE now owns 14,520 shares of the company's stock valued at $705,000 after acquiring an additional 281 shares during the last quarter. Finally, Metis Global Partners LLC boosted its holdings in FOX by 2.8% in the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company's stock valued at $524,000 after acquiring an additional 292 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 21.77% of the company's stock.

FOX Stock Up 1.2%

NASDAQ FOXA traded up $0.69 on Tuesday, reaching $56.50. The company had a trading volume of 3,943,592 shares, compared to its average volume of 3,490,594. Fox Co. has a 52-week low of $32.51 and a 52-week high of $58.74. The stock has a market capitalization of $25.40 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.27 and a beta of 0.51. The company's fifty day moving average is $51.41 and its 200 day moving average is $50.50. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.17. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. Sell-side analysts anticipate that Fox Co. will post 4.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Moffett Nathanson cut FOX from a "buy" rating to a "neutral" rating and upped their target price for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Guggenheim restated a "buy" rating and set a $60.00 price target on shares of FOX in a report on Tuesday, March 25th. JPMorgan Chase & Co. increased their price target on FOX from $49.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 price target on FOX and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, Cowen restated a "hold" rating on shares of FOX in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $52.71.

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.