Fox Co. (NASDAQ:FOXA) Shares Acquired by Paloma Partners Management Co

Paloma Partners Management Co increased its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 672.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,000 shares of the company's stock after purchasing an additional 14,800 shares during the quarter. Paloma Partners Management Co's holdings in FOX were worth $720,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its position in FOX by 1.7% during the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company's stock worth $991,000 after buying an additional 385 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of FOX by 4.4% during the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company's stock valued at $333,000 after acquiring an additional 406 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position 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 purchasing an additional 451 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in FOX by 0.9% during the second quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company's stock worth $1,695,000 after purchasing an additional 453 shares during the period. Finally, Verdence Capital Advisors LLC boosted its holdings 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 purchasing an additional 458 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was 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 at this link. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 469,352 shares of company stock valued at $20,822,072. 21.77% of the stock is owned by corporate insiders.

FOX Stock Down 0.2 %

Shares of FOX stock traded down $0.11 during trading on Wednesday, hitting $46.30. 2,542,874 shares of the stock were exchanged, compared to its average volume of 3,065,283. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The firm's 50-day moving average price is $43.78 and its 200 day moving average price is $39.43. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.20 and a beta of 0.77. Fox Co. has a 12-month low of $28.28 and a 12-month high of $47.58.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data 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 business had revenue of $3.56 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. As a group, analysts forecast that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

FOXA has been the subject of a number of recent analyst reports. Cfra restated a "sell" rating on shares of FOX in a report on Wednesday, September 25th. Loop Capital raised 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. The Goldman Sachs Group upped their target price on shares of FOX from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Evercore ISI upgraded shares of FOX to a "hold" rating in a research report on Tuesday, November 5th. Finally, Macquarie reaffirmed a "neutral" rating and set a $43.00 price objective on shares of FOX in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $44.00.

About FOX

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.