Fox Co. (NASDAQ:FOXA) Stock Position Boosted by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its stake in Fox Co. (NASDAQ:FOXA) by 1.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 18,908 shares of the company’s stock after acquiring an additional 324 shares during the quarter. Park Avenue Securities LLC’s holdings in FOX were worth $591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FOXA. HighTower Advisors LLC grew its position in FOX by 15.8% in the 3rd quarter. HighTower Advisors LLC now owns 16,866 shares of the company’s stock valued at $524,000 after buying an additional 2,306 shares in the last quarter. Paralel Advisors LLC boosted its position in shares of FOX by 1.3% during the 3rd quarter. Paralel Advisors LLC now owns 56,216 shares of the company’s stock valued at $1,754,000 after purchasing an additional 702 shares in the last quarter. Stifel Financial Corp boosted its position in shares of FOX by 30.6% during the 3rd quarter. Stifel Financial Corp now owns 60,538 shares of the company’s stock valued at $1,889,000 after purchasing an additional 14,181 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of FOX by 3.9% during the 3rd quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock valued at $1,059,000 after purchasing an additional 1,271 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of FOX during the 3rd quarter valued at about $952,000. Institutional investors own 52.52% of the company’s stock.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the transaction, the chief financial officer now owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Steven Tomsic sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the transaction, the chief financial officer now owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the transaction, the chairman now directly owns 1,408,862 shares in the company, valued at approximately $43,519,747.18. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities restated a “neutral” rating and set a $34.00 price objective on shares of FOX in a research report on Monday, April 15th. Macquarie raised their price objective on shares of FOX from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Bank of America upgraded shares of FOX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $40.00 in a research report on Thursday, May 9th. Finally, Barclays raised their price objective on shares of FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.38.

FOX Price Performance

NASDAQ FOXA opened at $34.08 on Friday. The company has a 50 day simple moving average of $33.09 and a 200-day simple moving average of $31.31. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The firm has a market capitalization of $15.91 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 1.26 and a beta of 0.77. Fox Co. has a 52-week low of $28.28 and a 52-week high of $35.40.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.11. The business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.44 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. Equities research analysts predict that Fox Co. will post 3.33 earnings per share for the current fiscal year.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.