HAP Trading LLC Takes $678,000 Position in Fox Co. (NASDAQ:FOXA)

HAP Trading LLC acquired a new position in shares of Fox Co. (NASDAQ:FOXA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,955 shares of the company's stock, valued at approximately $678,000.

Several other institutional investors have also modified their holdings of the company. WealthTrak Capital Management LLC purchased a new stake in shares of FOX in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. grew its stake in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after acquiring an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FOX in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp raised its holdings in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after acquiring an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on FOXA. Barclays dropped their price objective on shares of FOX from $50.00 to $45.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Moffett Nathanson downgraded FOX from a "buy" rating to a "neutral" rating and boosted their price target for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Wells Fargo & Company decreased their target price on FOX from $63.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $50.65.

FOX Price Performance

FOXA opened at $47.97 on Friday. The company has a 50-day moving average of $53.62 and a 200-day moving average of $49.03. Fox Co. has a 1-year low of $30.39 and a 1-year high of $58.74. The company has a market capitalization of $21.75 billion, a P/E ratio of 10.27, a PEG ratio of 1.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOXA - 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 $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm's revenue for the quarter was up 19.9% compared to the same quarter last year. Equities analysts expect that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a yield of 1%. FOX's payout ratio is currently 11.56%.

Insider Buying and Selling

In related news, insider Adam G. Ciongoli sold 1,278 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares of the company's stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.77% 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.

Want to see what other hedge funds are holding FOXA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fox Co. (NASDAQ:FOXA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.