Synergy Asset Management LLC Acquires 25,846 Shares of Fox Co. (NASDAQ:FOX)

Synergy Asset Management LLC increased its holdings in shares of Fox Co. (NASDAQ:FOX) by 73.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,166 shares of the company’s stock after buying an additional 25,846 shares during the period. Synergy Asset Management LLC’s holdings in FOX were worth $2,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FOX. Glenmede Trust Co. NA boosted its stake in FOX by 136.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after acquiring an additional 449 shares during the last quarter. Intact Investment Management Inc. bought a new position in shares of FOX during the third quarter worth $74,000. Exchange Traded Concepts LLC acquired a new position in shares of FOX in the 3rd quarter valued at $128,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of FOX in the 2nd quarter valued at $136,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in FOX by 1,269.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,560 shares of the company’s stock worth $138,000 after buying an additional 3,300 shares during the period. 26.41% of the stock is owned by institutional investors.

FOX Trading Up 0.6 %

Shares of NASDAQ:FOX opened at $47.85 on Thursday. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.66 and a beta of 0.81. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. Fox Co. has a 12 month low of $25.82 and a 12 month high of $48.35. The company’s fifty day simple moving average is $45.58 and its 200 day simple moving average is $40.61.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.35. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.37 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. During the same quarter last year, the business posted $1.09 EPS. As a group, research analysts forecast that Fox Co. will post 3.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays raised FOX to a “hold” rating in a research note on Wednesday, October 9th. Moffett Nathanson lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total transaction of $35,521,075.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,053,505 shares of company stock valued at $47,705,970 in the last quarter. 23.06% of the stock is currently owned by insiders.

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.