Fox Co. (NASDAQ:FOXA) Shares Sold by DRW Securities LLC

DRW Securities LLC reduced its stake in Fox Co. (NASDAQ:FOXA) by 41.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,426 shares of the company’s stock after selling 7,262 shares during the quarter. DRW Securities LLC’s holdings in FOX were worth $441,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV lifted its stake in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of FOX in the 2nd quarter valued at $51,000. Quest Partners LLC acquired a new position in FOX during the 3rd quarter worth about $51,000. Duncker Streett & Co. Inc. purchased a new position in FOX during the 2nd quarter valued at about $52,000. Finally, Bessemer Group Inc. grew its position in FOX by 11.0% in the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after acquiring an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Buying and Selling at FOX

In related news, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $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 available through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by company insiders.

FOX Stock Up 0.2 %

FOX stock opened at $46.15 on Wednesday. The company has a market capitalization of $21.08 billion, a P/E ratio of 11.28, a PEG 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 Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The stock has a 50-day simple moving average of $43.12 and a 200-day simple moving average of $38.90.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.38 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that Fox Co. will post 3.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FOXA. The Goldman Sachs Group increased their price target on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” 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 company a “hold” rating in a research report on Tuesday, November 5th. UBS Group upped their price objective on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Guggenheim upped their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FOX currently has an average 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.