Cerity Partners LLC Increases Position in Fox Co. (NASDAQ:FOXA)

Cerity Partners LLC lifted its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 98.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,198 shares of the company's stock after buying an additional 16,950 shares during the quarter. Cerity Partners LLC's holdings in FOX were worth $1,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. grew its position in FOX by 1.7% in the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company's stock valued at $991,000 after acquiring an additional 385 shares during the last quarter. Raymond James Trust N.A. grew its position in FOX by 4.4% in the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company's stock valued at $333,000 after acquiring an additional 406 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of FOX by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company's stock worth $1,249,000 after acquiring an additional 451 shares during the period. Linden Thomas Advisory Services LLC lifted its stake in shares of FOX by 0.9% in the second quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company's stock worth $1,695,000 after acquiring an additional 453 shares during the period. Finally, Verdence Capital Advisors LLC lifted its stake in shares of FOX by 3.5% in the second quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company's stock worth $461,000 after acquiring an additional 458 shares during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FOXA shares. Loop Capital lifted their price objective on FOX from $43.00 to $46.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Macquarie reissued a "neutral" rating and issued a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. Morgan Stanley boosted their price target on FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Bank of America boosted their price target on FOX from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Finally, Guggenheim boosted their price target on FOX from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $44.00.

Insiders Place Their Bets

In other news, COO John Nallen sold 182,481 shares of the firm's stock in a transaction on 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 completion of the sale, the chief operating officer now owns 249,424 shares of the company's stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares of the company's stock, valued at $52,935,147.10. The trade was a 7.36 % decrease in their position. 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. 21.77% of the stock is owned by company insiders.

FOX Price Performance

Shares of NASDAQ FOXA traded down $0.11 during mid-day trading on Wednesday, reaching $46.30. The company's stock had a trading volume of 2,542,874 shares, compared to its average volume of 3,065,283. The stock has a fifty day moving average of $43.78 and a two-hundred day moving average of $39.43. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.58. The firm has a market capitalization of $21.15 billion, a PE ratio of 11.32, a P/E/G ratio of 1.20 and a beta of 0.77. 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 issued its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business 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 business posted $1.09 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fox Co. will post 3.94 EPS for the current fiscal 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.