Orion Portfolio Solutions LLC Cuts Holdings in Fox Co. (NASDAQ:FOX)

Orion Portfolio Solutions LLC decreased its position in Fox Co. (NASDAQ:FOX) by 21.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,954 shares of the company’s stock after selling 5,485 shares during the period. Orion Portfolio Solutions LLC’s holdings in FOX were worth $774,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Glenmede Trust Co. NA boosted its holdings in shares of FOX by 136.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after buying an additional 449 shares during the last quarter. Blue Trust Inc. lifted its stake in FOX by 692.1% in the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after purchasing an additional 1,232 shares during the last quarter. Intact Investment Management Inc. bought a new position in FOX during the third quarter valued at $74,000. Exchange Traded Concepts LLC purchased a new stake in FOX in the third quarter worth $128,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of FOX in the second quarter valued at $136,000. Institutional investors own 26.41% of the company’s stock.

FOX Price Performance

Shares of NASDAQ FOX opened at $44.65 on Tuesday. 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 fifty-two week low of $25.82 and a fifty-two week high of $45.27. The stock has a market cap of $20.39 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.58 and a beta of 0.83. The stock has a fifty day moving average of $41.64 and a 200-day moving average of $37.45.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction on 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 completion of the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. 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 quarter. 23.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FOX. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Barclays upgraded shares of FOX to a “hold” rating in a research note on Wednesday, October 9th.

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.