Paloma Partners Management Co Buys 14,800 Shares of Fox Co. (NASDAQ:FOXA)

Paloma Partners Management Co increased its stake in Fox Co. (NASDAQ:FOXA) by 672.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,000 shares of the company’s stock after purchasing an additional 14,800 shares during the period. Paloma Partners Management Co’s holdings in FOX were worth $720,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FOXA. Jane Street Group LLC lifted its position in shares of FOX by 25.2% during the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after buying an additional 28,072 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of FOX in the 3rd quarter valued at approximately $546,000. Manning & Napier Advisors LLC acquired a new position in FOX during the 2nd quarter worth approximately $5,219,000. Edgestream Partners L.P. lifted its stake in FOX by 343.1% in the 2nd quarter. Edgestream Partners L.P. now owns 203,956 shares of the company’s stock valued at $7,010,000 after purchasing an additional 157,927 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in FOX in the third quarter valued at approximately $2,867,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nallen sold 182,481 shares of FOX 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 directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 469,352 shares of company stock valued at $20,822,072. 21.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Rosenblatt Securities upped their target price on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. The Goldman Sachs Group raised their price objective on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Evercore ISI raised shares of FOX to a “hold” rating in a report on Tuesday, November 5th. Finally, Barclays raised their price target on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.00.

FOX Trading Down 0.8 %

NASDAQ FOXA opened at $46.41 on Wednesday. The stock has a market capitalization of $21.20 billion, a P/E ratio of 11.35, a P/E/G ratio of 1.20 and a beta of 0.77. The business has a 50 day simple moving average of $43.70 and a 200 day simple moving average of $39.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. Fox Co. has a one year low of $28.28 and a one year high of $47.58.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results 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. The firm 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%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 earnings per share. Research analysts expect 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.