Sora Investors LLC Buys New Position in Fox Co. (NASDAQ:FOXA)

Sora Investors LLC bought a new position in Fox Co. (NASDAQ:FOXA) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 75,000 shares of the company’s stock, valued at approximately $3,175,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Stevens Capital Management LP purchased a new stake in shares of FOX during the 3rd quarter worth about $321,000. Quantinno Capital Management LP lifted its position in FOX by 18.1% during the third quarter. Quantinno Capital Management LP now owns 126,941 shares of the company’s stock valued at $5,373,000 after buying an additional 19,421 shares in the last quarter. Quarry LP purchased a new stake in FOX during the third quarter worth approximately $70,000. Polar Asset Management Partners Inc. acquired a new stake in shares of FOX in the third quarter worth $6,307,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of FOX by 228.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after acquiring an additional 964,737 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Price Performance

FOXA opened at $46.65 on Friday. The stock has a market cap of $21.31 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.19 and a beta of 0.77. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $43.87 and a 200 day simple moving average of $39.48. Fox Co. has a 12 month low of $28.28 and a 12 month high of $47.58.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the firm posted $1.09 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts expect that Fox Co. will post 3.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FOXA shares. TD Cowen upped their price target on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Barclays increased their target price on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Cfra reissued a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Bank of America raised their price target on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company upped their price target on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, FOX currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 469,352 shares of company stock worth $20,822,072. Corporate insiders own 21.77% of the company’s stock.

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.