MetLife Investment Management LLC Trims Stake in Fox Co. (NASDAQ:FOX)

MetLife Investment Management LLC lessened its stake in shares of Fox Co. (NASDAQ:FOX) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,305 shares of the company’s stock after selling 884 shares during the quarter. MetLife Investment Management LLC’s holdings in FOX were worth $1,331,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Independent Franchise Partners LLP boosted its position in FOX by 14.5% during the second quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock worth $160,863,000 after acquiring an additional 636,247 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of FOX by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock worth $74,483,000 after acquiring an additional 272,743 shares during the period. Assenagon Asset Management S.A. purchased a new stake in FOX in the second quarter valued at approximately $65,709,000. Brandes Investment Partners LP grew its stake in shares of FOX by 21.5% during the 2nd quarter. Brandes Investment Partners LP now owns 1,273,492 shares of the company’s stock valued at $40,758,000 after buying an additional 225,768 shares during the period. Finally, Mirabella Financial Services LLP raised its position in shares of FOX by 5.5% in the 3rd quarter. Mirabella Financial Services LLP now owns 1,233,401 shares of the company’s stock worth $47,856,000 after buying an additional 64,062 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analyst Ratings Changes

FOX has been the topic of a number of research reports. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Barclays raised shares of FOX to a “hold” rating in a research note on Wednesday, October 9th.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total value of $35,521,075.68. The disclosure for this sale can be found here. Insiders sold a total of 1,053,505 shares of company stock worth $47,705,970 in the last 90 days. 23.06% of the stock is owned by company insiders.

FOX Price Performance

FOX stock opened at $44.64 on Friday. The firm has a market cap of $20.39 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 1.69 and a beta of 0.83. 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 Co. has a 1 year low of $25.82 and a 1 year high of $44.89. The stock has a 50-day simple moving average of $40.96 and a 200-day simple moving average of $36.81.

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.