Worldquant Millennium Advisors LLC Buys 74,095 Shares of Fox Co. (NASDAQ:FOXA)

Worldquant Millennium Advisors LLC grew its stake in shares of Fox Co. (NASDAQ:FOXA) by 220.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,631 shares of the company’s stock after buying an additional 74,095 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in FOX were worth $4,556,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new position in shares of FOX during the third quarter valued at about $51,000. Friedenthal Financial bought a new position in shares of FOX during the second quarter valued at about $51,000. Duncker Streett & Co. Inc. bought a new position in shares of FOX during the second quarter valued at about $52,000. Quarry LP bought a new position in shares of FOX during the third quarter valued at about $70,000. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of FOX during the third quarter valued at about $119,000. 52.52% of the stock is owned by institutional investors.

FOX Trading Up 0.8 %

Shares of FOXA stock opened at $47.00 on Friday. Fox Co. has a 1 year low of $28.28 and a 1 year high of $47.58. The firm has a fifty day moving average price of $43.96 and a 200-day moving average price of $39.63. 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 market cap of $21.47 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.19 and a beta of 0.77.

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

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at $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 have sold a total of 469,352 shares of company stock worth $20,822,072 in the last 90 days. 21.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on FOXA. Evercore ISI raised FOX to a “hold” rating in a research note on Tuesday, November 5th. StockNews.com raised FOX from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America raised their target price on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Macquarie reissued a “neutral” rating and issued a $43.00 target price on shares of FOX in a research note on Tuesday, November 5th. Finally, Loop Capital raised their target price on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

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.