Centiva Capital LP Cuts Stake in Fox Co. (NASDAQ:FOX)

Centiva Capital LP cut its holdings in Fox Co. (NASDAQ:FOX) by 39.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,032 shares of the company’s stock after selling 12,254 shares during the period. Centiva Capital LP’s holdings in FOX were worth $738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its position in shares of FOX by 136.9% during the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after purchasing an additional 449 shares in the last quarter. Blue Trust Inc. boosted its stake in FOX by 692.1% during the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after buying an additional 1,232 shares during the last quarter. Friedenthal Financial purchased a new position in FOX during the 2nd quarter valued at approximately $51,000. Intact Investment Management Inc. bought a new stake in FOX in the 3rd quarter worth approximately $74,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of FOX during the 3rd quarter worth approximately $128,000. 26.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on FOX. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Barclays raised FOX to a “hold” rating in a research note on Wednesday, October 9th.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. The trade was a 7.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,053,505 shares of company stock valued at $47,705,970. 23.06% of the stock is currently owned by company insiders.

FOX Stock Performance

NASDAQ:FOX opened at $44.64 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The stock’s fifty day moving average is $40.96 and its 200 day moving average is $36.81. The firm has a market capitalization of $20.39 billion, a PE ratio of 10.91, a PEG ratio of 1.69 and a beta of 0.83. Fox Co. has a fifty-two week low of $25.82 and a fifty-two week high of $44.89.

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.