Los Angeles Capital Management LLC Has $421,000 Stake in Fox Co. (NASDAQ:FOXA)

Los Angeles Capital Management LLC trimmed its stake in Fox Co. (NASDAQ:FOXA) by 43.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,948 shares of the company’s stock after selling 7,540 shares during the period. Los Angeles Capital Management LLC’s holdings in FOX were worth $421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its stake in shares of FOX by 176.6% during 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 last quarter. Friedenthal Financial bought a new stake in shares of FOX during the 2nd quarter worth $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX during the 2nd quarter worth $52,000. Covestor Ltd lifted its holdings in shares of FOX by 283.0% during the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after acquiring an additional 2,128 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in FOX by 11.0% in the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock worth $103,000 after purchasing an additional 326 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FOXA has been the subject of several recent analyst reports. Macquarie reaffirmed a “neutral” rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Evercore ISI upgraded shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Guggenheim upped their target price on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Loop Capital increased their price objective on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $44.00.

Insider Activity at FOX

In related news, COO John Nallen sold 182,481 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

FOX Price Performance

FOX stock opened at $45.64 on Monday. The company’s 50 day simple moving average is $42.23 and its 200-day simple moving average is $38.24. The company has a market capitalization of $21.00 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. Fox Co. has a 1 year low of $28.28 and a 1 year high of $47.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

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

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.