Invst LLC Buys Shares of 17,471 Fox Co. (NASDAQ:FOXA)

Invst LLC purchased a new stake in shares of Fox Co. (NASDAQ:FOXA) in the third quarter, according to its most recent filing with the SEC. The firm purchased 17,471 shares of the company’s stock, valued at approximately $740,000.

Several other institutional investors have also modified their holdings of FOXA. Quest Partners LLC acquired a new position in FOX during the third quarter worth $51,000. Duncker Streett & Co. Inc. acquired a new position in shares of FOX during the 2nd quarter worth $52,000. Quarry LP acquired a new position in shares of FOX during the 3rd quarter worth $70,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of FOX in the 3rd quarter worth about $119,000. Finally, Exchange Traded Concepts LLC acquired a new stake in FOX in the 3rd quarter valued at about $141,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 469,352 shares of company stock valued at $20,822,072. Company insiders own 21.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FOXA. The Goldman Sachs Group upped their price target on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. TD Cowen upped their target price on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Guggenheim raised their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Bank of America boosted their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Macquarie reaffirmed a “neutral” rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FOX has a consensus rating of “Hold” and an average price target of $44.00.

FOX Price Performance

Shares of FOX stock opened at $46.37 on Wednesday. The business’s fifty day moving average price is $44.04 and its 200 day moving average price is $39.77. Fox Co. has a twelve month low of $28.28 and a twelve month high of $47.58. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $21.18 billion, a P/E ratio of 11.34, a PEG ratio of 1.21 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 (EPS) 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 business 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 earned $1.09 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that Fox Co. will post 3.94 earnings per share for the current year.

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.