CWA Asset Management Group LLC Makes New Investment in Fox Co. (NASDAQ:FOXA)

CWA Asset Management Group LLC purchased a new stake in Fox Co. (NASDAQ:FOXA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,370 shares of the company's stock, valued at approximately $1,427,000.

Other hedge funds also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its position in shares of FOX by 1.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company's stock valued at $991,000 after buying an additional 385 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of FOX by 1.6% during 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 purchasing an additional 451 shares during the last quarter. US Bancorp DE increased its position in shares of FOX by 4.0% during the third quarter. US Bancorp DE now owns 14,239 shares of the company's stock worth $603,000 after purchasing an additional 550 shares in the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of FOX by 14.7% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 4,445 shares of the company's stock valued at $188,000 after purchasing an additional 569 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of FOX by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,082 shares of the company's stock valued at $2,924,000 after purchasing an additional 590 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 469,352 shares of company stock valued at $20,822,072. 21.77% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Guggenheim boosted their price objective on FOX from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of FOX from $42.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Barclays upped their target price on shares of FOX from $36.00 to $39.00 and gave the company an "equal weight" rating in a report on Wednesday, October 9th. Citigroup increased their target price on shares of FOX from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Finally, UBS Group boosted their price target on FOX from $44.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, FOX currently has an average rating of "Hold" and an average target price of $46.87.

FOX Price Performance

Shares of NASDAQ:FOXA traded down $0.40 on Tuesday, reaching $49.23. 2,672,917 shares of the company were exchanged, compared to its average volume of 2,627,829. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. Fox Co. has a 1-year low of $28.28 and a 1-year high of $50.63. The company has a 50-day moving average of $46.76 and a 200-day moving average of $41.85. The firm has a market cap of $22.49 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.21 and a beta of 0.77.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping 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 company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts forecast that Fox Co. will post 3.94 earnings per share 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.