CMC Financial Group Invests $243,000 in Fox Co. (NASDAQ:FOX)

CMC Financial Group bought a new position in shares of Fox Co. (NASDAQ:FOX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,307 shares of the company's stock, valued at approximately $243,000. FOX accounts for about 0.5% of CMC Financial Group's holdings, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of FOX by 0.6% in the 3rd quarter. Victory Capital Management Inc. now owns 46,645 shares of the company's stock valued at $1,810,000 after buying an additional 300 shares during the period. Thrivent Financial for Lutherans acquired a new position in FOX during the third quarter worth approximately $201,000. Quest Partners LLC acquired a new position in shares of FOX in the 3rd quarter valued at about $304,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in FOX during the 3rd quarter worth $908,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of FOX by 48.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 385,506 shares of the company's stock valued at $14,958,000 after purchasing an additional 126,384 shares during the period. Hedge funds and other institutional investors own 26.41% of the company's stock.

Wall Street Analyst Weigh In

Separately, Moffett Nathanson cut FOX from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st.

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FOX Stock Performance

Shares of FOX traded down $0.26 during mid-day trading on Friday, hitting $50.47. The stock had a trading volume of 140,196 shares, compared to its average volume of 1,167,972. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market cap of $22.88 billion, a PE ratio of 10.81, a PEG ratio of 1.55 and a beta of 0.74. Fox Co. has a fifty-two week low of $27.63 and a fifty-two week high of $55.00. The company's fifty day simple moving average is $50.21 and its two-hundred day simple moving average is $44.82.

FOX (NASDAQ:FOX - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.35. FOX had a net margin of 14.39% and a return on equity of 18.50%. During the same quarter last year, the business earned $0.34 earnings per share. On average, equities analysts expect that Fox Co. will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Wednesday, March 5th. FOX's dividend payout ratio (DPR) is presently 11.56%.

Insider Transactions at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares of the company's stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.06% of the company's stock.

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.