Invst LLC Makes New $740,000 Investment in Fox Co. (NASDAQ:FOXA)

Invst LLC acquired a new stake in Fox Co. (NASDAQ:FOXA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,471 shares of the company's stock, valued at approximately $740,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its stake in FOX by 1.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company's stock valued at $991,000 after purchasing an additional 385 shares during the last quarter. Raymond James Trust N.A. grew its holdings in FOX by 4.4% during the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company's stock worth $333,000 after buying an additional 406 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in 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 buying an additional 451 shares in the last quarter. Verdence Capital Advisors LLC raised its position in FOX by 3.5% in the 2nd quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company's stock valued at $461,000 after buying an additional 458 shares during the last quarter. Finally, US Bancorp DE lifted its stake in FOX by 4.0% during the 3rd quarter. US Bancorp DE now owns 14,239 shares of the company's stock valued at $603,000 after acquiring an additional 550 shares in the last quarter. Institutional investors own 52.52% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on FOXA. Deutsche Bank Aktiengesellschaft increased their target price on shares of FOX from $42.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on shares of FOX from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Guggenheim boosted their target price on FOX from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price target on FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. Finally, Loop Capital boosted their price objective on FOX from $43.00 to $46.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, FOX has a consensus rating of "Hold" and an average price target of $44.00.

FOX Stock Performance

Shares of NASDAQ FOXA traded down $0.30 during midday trading on Wednesday, hitting $46.07. The company's stock had a trading volume of 3,279,640 shares, compared to its average volume of 3,092,906. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 1.21 and a beta of 0.77. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $44.12 and a 200 day moving average price of $39.86. Fox Co. has a one year low of $28.28 and a one year high of $47.58.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 earnings per share. On average, research analysts forecast that Fox Co. will post 3.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares of the company's stock, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Nallen sold 182,481 shares of the company's stock in a transaction on 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 directly owns 249,424 shares in the company, valued at approximately $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 a total of 469,352 shares of company stock worth $20,822,072 in the last quarter. 21.77% of the stock is owned by company insiders.

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.