CWA Asset Management Group LLC Acquires New Position in Fox Co. (NASDAQ:FOXA)

CWA Asset Management Group LLC bought a new position in Fox Co. (NASDAQ:FOXA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 29,370 shares of the company’s stock, valued at approximately $1,427,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in FOX in the 3rd quarter worth approximately $51,000. Quarry LP purchased a new position in shares of FOX in the third quarter worth $70,000. Versant Capital Management Inc lifted its holdings in shares of FOX by 3,551.1% during the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after purchasing an additional 1,669 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in shares of FOX during the third quarter valued at $119,000. Finally, Exchange Traded Concepts LLC bought a new stake in FOX in the 3rd quarter worth about $141,000. Institutional investors own 52.52% of the company’s stock.

Insider Buying and Selling at FOX

In related 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 469,352 shares of company stock valued at $20,822,072 in the last three months. 21.77% of the stock is currently owned by corporate insiders.

FOX Stock Up 0.6 %

FOXA opened at $49.63 on Tuesday. The stock has a market cap of $22.67 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.21 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm’s fifty day moving average is $46.76 and its 200 day moving average is $41.85. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $50.63.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. On average, sell-side analysts forecast that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several research analyst reports. Guggenheim upped their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company increased their price target on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Evercore ISI raised FOX to a “hold” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, FOX presently has a consensus rating of “Hold” and an average price target of $46.87.

About FOX

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.