Intech Investment Management LLC Takes $5.04 Million Position in Fox Co. (NASDAQ:FOXA)

Intech Investment Management LLC purchased a new position in Fox Co. (NASDAQ:FOXA - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 119,125 shares of the company's stock, valued at approximately $5,043,000.

A number of other institutional investors also recently added to or reduced their stakes in FOXA. Massmutual Trust Co. FSB ADV increased its stake in FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company's stock valued at $25,000 after purchasing an additional 461 shares during the last quarter. Quest Partners LLC acquired a new position in FOX in the third quarter valued at $51,000. Friedenthal Financial purchased a new position in shares of FOX during the second quarter worth about $51,000. Duncker Streett & Co. Inc. acquired a new stake in shares of FOX during the second quarter worth about $52,000. Finally, Bessemer Group Inc. lifted its holdings in shares of FOX by 11.0% in the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company's stock valued at $103,000 after purchasing an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm's 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 transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $7,979,894.13. Following the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FOXA. Cfra reaffirmed a "sell" rating on shares of FOX in a research report on Wednesday, September 25th. Bank of America upped their price target on shares of FOX from $45.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. TD Cowen boosted their price objective on shares of FOX from $36.00 to $42.00 and gave the company a "hold" rating in a research report on Tuesday, November 5th. StockNews.com upgraded FOX from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Finally, Morgan Stanley raised their price objective on FOX from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $44.00.

FOX Stock Up 0.5 %

FOX stock traded up $0.21 during midday trading on Friday, hitting $46.85. 1,967,573 shares of the company were exchanged, compared to its average volume of 4,098,675. The company has a market cap of $21.40 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The company's fifty day moving average price is $42.88 and its 200-day moving average price is $38.64. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that Fox Co. will post 3.94 EPS for the current fiscal year.

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.