Algert Global LLC Invests $2.56 Million in Fox Co. (NASDAQ:FOX)

Algert Global LLC bought a new stake in Fox Co. (NASDAQ:FOX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 66,017 shares of the company’s stock, valued at approximately $2,561,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FOX. Victory Capital Management Inc. boosted its stake in shares of FOX by 0.6% in the 3rd quarter. Victory Capital Management Inc. now owns 46,645 shares of the company’s stock valued at $1,810,000 after buying an additional 300 shares during the period. Royal London Asset Management Ltd. lifted its stake in FOX by 0.7% in the second quarter. Royal London Asset Management Ltd. now owns 52,054 shares of the company’s stock worth $1,667,000 after acquiring an additional 367 shares during the last quarter. MBB Public Markets I LLC lifted its stake in FOX by 4.4% in the second quarter. MBB Public Markets I LLC now owns 10,516 shares of the company’s stock worth $337,000 after acquiring an additional 440 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in FOX by 4.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,742 shares of the company’s stock worth $417,000 after acquiring an additional 457 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in shares of FOX by 1.1% in the 2nd quarter. State of Michigan Retirement System now owns 45,531 shares of the company’s stock valued at $1,458,000 after purchasing an additional 500 shares during the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FOX shares. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Barclays raised FOX to a “hold” rating in a research report on Wednesday, October 9th.

FOX Stock Performance

Shares of FOX stock opened at $43.81 on Wednesday. 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 Co. has a 52 week low of $25.82 and a 52 week high of $44.66. The firm’s 50 day moving average is $39.96 and its two-hundred day moving average is $36.12. The firm has a market capitalization of $20.01 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.70 and a beta of 0.81.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 771,024 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,053,505 shares of company stock valued at $47,705,970 in the last ninety days. Insiders own 23.06% of the company’s stock.

FOX 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.