Amalgamated Bank Cuts Stake in Fox Co. (NASDAQ:FOXA)

Amalgamated Bank cut its holdings in shares of Fox Co. (NASDAQ:FOXA) by 37.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,714 shares of the company’s stock after selling 27,314 shares during the quarter. Amalgamated Bank’s holdings in FOX were worth $1,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FOXA. Massmutual Trust Co. FSB ADV increased its stake in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial purchased a new position in shares of FOX in the second quarter worth $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX during the 2nd quarter valued at $52,000. Meeder Asset Management Inc. purchased a new stake in FOX during the 1st quarter valued at $66,000. Finally, Covestor Ltd boosted its position in FOX by 283.0% during the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock valued at $90,000 after buying an additional 2,128 shares during the period. Institutional investors own 52.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FOXA. Macquarie reaffirmed a “neutral” rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Evercore ISI raised FOX to a “hold” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their price objective on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Guggenheim upped their target price on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley lifted their price target on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, FOX has an average rating of “Hold” and a consensus price target of $44.00.

FOX Stock Performance

FOX stock opened at $46.90 on Wednesday. The stock’s 50 day moving average is $41.75 and its 200 day moving average is $37.80. The company has a market capitalization of $21.58 billion, a P/E ratio of 11.47, a PEG ratio of 1.14 and a beta of 0.76. Fox Co. has a twelve month low of $28.28 and a twelve month high of $46.97. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Nallen sold 52,874 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 335,355 shares of company stock worth $14,244,865. Corporate insiders own 21.77% of the company’s stock.

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.