Investment Management Corp of Ontario Sells 53,535 Shares of Fox Co. (NASDAQ:FOXA)

Investment Management Corp of Ontario decreased its holdings in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 87.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,650 shares of the company's stock after selling 53,535 shares during the quarter. Investment Management Corp of Ontario's holdings in FOX were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FOXA. Friedenthal Financial acquired a new position in FOX during the 2nd quarter worth about $51,000. Quest Partners LLC bought a new stake in shares of FOX during the 3rd quarter valued at about $51,000. Duncker Streett & Co. Inc. acquired a new stake in shares of FOX during the 2nd quarter worth approximately $52,000. Transamerica Financial Advisors Inc. acquired a new stake in FOX in the third quarter worth $119,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of FOX during the 3rd quarter worth about $141,000. Institutional investors own 52.52% of the company's stock.

Analyst Upgrades and Downgrades

FOXA has been the subject of a number of research analyst reports. TD Cowen boosted their target price on FOX from $36.00 to $42.00 and gave the company a "hold" rating in a research report on Tuesday, November 5th. Bank of America boosted their price objective on FOX from $45.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on FOX from $41.00 to $42.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Guggenheim boosted 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. Finally, The Goldman Sachs Group raised their price objective 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $44.00.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company's stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock valued at $20,822,072 over the last ninety days. 21.77% of the stock is currently owned by insiders.

FOX Stock Performance

FOXA traded up $0.35 during trading on Friday, hitting $47.00. 4,230,699 shares of the company traded hands, compared to its average volume of 3,616,756. Fox Co. has a one year low of $28.28 and a one year high of $47.58. The stock's fifty day moving average is $43.96 and its 200 day moving average is $39.67. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The firm has a market cap of $21.47 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77.

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 during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. As a group, equities analysts predict that Fox Co. will post 3.94 EPS for the current fiscal year.

FOX Company 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.