Versant Capital Management Inc Raises Stock Holdings in Fox Co. (NASDAQ:FOXA)

Versant Capital Management Inc boosted its stake in shares of Fox Co. (NASDAQ:FOXA) by 3,551.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,716 shares of the company’s stock after purchasing an additional 1,669 shares during the quarter. Versant Capital Management Inc’s holdings in FOX were worth $83,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FOXA. Quest Partners LLC bought a new stake in shares of FOX in the 3rd quarter valued at about $51,000. Quarry LP purchased a new stake in FOX during the third quarter valued at approximately $70,000. Transamerica Financial Advisors Inc. acquired a new stake in FOX in the third quarter valued at approximately $119,000. Exchange Traded Concepts LLC purchased a new position in FOX in the third quarter worth $141,000. Finally, Mather Group LLC. increased its position in shares of FOX by 74.5% during the third quarter. Mather Group LLC. now owns 4,178 shares of the company’s stock worth $177,000 after purchasing an additional 1,784 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Activity

In other news, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction 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 trade represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock worth $20,822,072 in the last ninety days. Company insiders own 21.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup raised their price target on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Guggenheim upped their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barclays lifted their target price on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.87.

FOX Trading Up 0.7 %

FOX stock opened at $49.32 on Friday. The firm has a market cap of $22.53 billion, a PE ratio of 12.06, a P/E/G ratio of 1.18 and a beta of 0.75. Fox Co. has a 12 month low of $28.28 and a 12 month high of $50.63. The stock’s 50 day simple moving average is $46.60 and its two-hundred day simple moving average is $41.63. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

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

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.