Plato Investment Management Ltd Decreases Stake in Fox Co. (NASDAQ:FOXA)

Plato Investment Management Ltd decreased its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 67.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,227 shares of the company's stock after selling 17,407 shares during the period. Plato Investment Management Ltd's holdings in FOX were worth $348,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company's stock worth $25,000 after buying an additional 461 shares during the period. Friedenthal Financial purchased a new position in shares of FOX in the 2nd quarter valued at approximately $51,000. Duncker Streett & Co. Inc. acquired a new position in shares of FOX in the second quarter valued at approximately $52,000. Covestor Ltd raised its stake in shares of FOX by 283.0% during the first quarter. Covestor Ltd now owns 2,880 shares of the company's stock worth $90,000 after purchasing an additional 2,128 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of FOX by 11.0% during the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company's stock worth $103,000 after purchasing an additional 326 shares during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Price Performance

FOXA traded down $1.84 during midday trading on Friday, reaching $45.64. 8,087,949 shares of the company's stock were exchanged, compared to its average volume of 3,040,998. Fox Co. has a 1-year low of $28.28 and a 1-year high of $47.58. The stock has a market capitalization of $21.00 billion, a PE ratio of 11.16, a P/E/G ratio of 1.20 and a beta of 0.76. 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 business's 50-day moving average price is $42.23 and its 200 day moving average price is $38.14.

FOX (NASDAQ:FOXA - Get Free Report) last issued 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 firm had revenue of $3.56 billion during 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 company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS. As a group, equities analysts anticipate that Fox Co. will post 3.94 EPS for the current fiscal year.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company's stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the business'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 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 ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FOXA has been the topic of several recent research reports. Rosenblatt Securities boosted their price objective on shares of FOX from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Barclays boosted their price target on shares of FOX from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price objective on shares of FOX from $46.00 to $49.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Loop Capital lifted their price objective on FOX from $43.00 to $46.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Finally, TD Cowen increased their target price on FOX from $36.00 to $42.00 and gave the stock a "hold" rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $44.00.

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.