Polar Asset Management Partners Inc. Invests $6.31 Million in Fox Co. (NASDAQ:FOXA)

Polar Asset Management Partners Inc. acquired a new position in shares of Fox Co. (NASDAQ:FOXA - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 149,000 shares of the company's stock, valued at approximately $6,307,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobs Levy Equity Management Inc. raised its position in FOX by 228.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company's stock valued at $58,716,000 after buying an additional 964,737 shares during the last quarter. Harbor Advisors LLC bought a new position in shares of FOX during the 3rd quarter worth approximately $202,000. Paloma Partners Management Co raised its holdings in shares of FOX by 672.7% in the third quarter. Paloma Partners Management Co now owns 17,000 shares of the company's stock valued at $720,000 after purchasing an additional 14,800 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of FOX in the third quarter worth $8,531,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in FOX by 18.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,869 shares of the company's stock worth $2,831,000 after purchasing an additional 10,261 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO John Nallen sold 182,481 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 in the last quarter. Corporate insiders own 21.77% of the company's stock.

FOX Stock Performance

FOXA traded up $0.35 during trading on Thursday, hitting $46.65. The stock had a trading volume of 5,140,170 shares, compared to its average volume of 3,074,112. 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 company has a 50 day moving average price of $43.87 and a 200-day moving average price of $39.48. Fox Co. has a one year low of $28.28 and a one year high of $47.58. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 1.19 and a beta of 0.77.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FOXA shares. UBS Group lifted their price target on shares of FOX from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Barclays upped their target price on FOX from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 9th. Seaport Res Ptn downgraded FOX from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 9th. Bank of America upped their price objective on FOX from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company raised their target price on shares of FOX from $46.00 to $49.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, FOX currently has a consensus 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.