Trust Asset Management LLC Makes New $208,000 Investment in Fox Co. (NASDAQ:FOXA)

Trust Asset Management LLC acquired a new stake in Fox Co. (NASDAQ:FOXA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,918 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its position 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 valued at $25,000 after acquiring an additional 461 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of FOX in the second quarter worth $51,000. Quest Partners LLC bought a new stake in FOX during the third quarter valued at approximately $51,000. Duncker Streett & Co. Inc. purchased a new position in shares of FOX during the 2nd quarter valued at about $52,000. Finally, Bessemer Group Inc. lifted its stake in FOX by 11.0% in 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 last quarter. Institutional investors own 52.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FOXA. Wells Fargo & Company boosted their price objective on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. TD Cowen raised their price target on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Bank of America upped their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group raised their target price on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities upped their price target on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One investment 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 currently has an average rating of “Hold” and a consensus price target of $44.00.

Insider Transactions at FOX

In related news, COO John Nallen sold 182,481 shares of the firm’s 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 transaction, the chief operating officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $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. Company insiders own 21.77% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA traded up $0.08 during trading hours on Monday, hitting $46.93. The company had a trading volume of 227,806 shares, compared to its average volume of 3,046,744. The business has a 50 day moving average of $42.88 and a 200-day moving average of $38.72. Fox Co. has a 1-year low of $28.28 and a 1-year high of $47.58. The company has a market cap of $21.43 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

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

FOX 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.