Assetmark Inc. Sells 15,280 Shares of Fox Co. (NASDAQ:FOXA)

Assetmark Inc. lessened its holdings in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 229,260 shares of the company's stock after selling 15,280 shares during the period. Assetmark Inc.'s holdings in FOX were worth $9,705,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of FOXA. Massmutual Trust Co. FSB ADV raised its stake in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company's stock worth $25,000 after buying an additional 461 shares during the last quarter. Friedenthal Financial bought a new position in FOX during the second quarter worth $51,000. Duncker Streett & Co. Inc. bought a new position in FOX during the second quarter worth $52,000. Meeder Asset Management Inc. bought a new position in FOX during the first quarter worth $66,000. Finally, Covestor Ltd raised its stake in FOX by 283.0% during the first quarter. Covestor Ltd now owns 2,880 shares of the company's stock worth $90,000 after buying an additional 2,128 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Activity

In other news, CEO Lachlan K. Murdoch bought 119,705 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares of the company's stock, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO John Nallen sold 182,481 shares of the company'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 completion of the sale, the chief operating officer now owns 249,424 shares of the company's stock, valued at approximately $10,907,311.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the company's stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 335,355 shares of company stock valued at $14,244,865 over the last quarter. Company insiders own 21.77% of the company's stock.

FOX Stock Performance

FOXA traded up $1.19 during midday trading on Monday, reaching $45.79. The company had a trading volume of 3,700,206 shares, compared to its average volume of 3,013,890. 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 stock has a market cap of $21.07 billion, a PE ratio of 10.90, a P/E/G ratio of 1.14 and a beta of 0.76. Fox Co. has a 12-month low of $28.28 and a 12-month high of $45.82. The business has a 50-day moving average price of $41.66 and a two-hundred day moving average price of $37.70.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FOXA. Guggenheim lifted their price target 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. The Goldman Sachs Group lifted their price target on shares of FOX from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. UBS Group lifted their price target on shares of FOX from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Macquarie reaffirmed a "neutral" rating and issued a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. Finally, Evercore ISI raised shares of FOX to a "hold" rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, FOX presently has a consensus rating of "Hold" and an average target price of $44.00.

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.