CWA Asset Management Group LLC Purchases New Position in Fox Co. (NASDAQ:FOXA)

CWA Asset Management Group LLC purchased a new position in Fox Co. (NASDAQ:FOXA) in the 4th quarter, HoldingsChannel reports. The firm purchased 29,370 shares of the company’s stock, valued at approximately $1,427,000.

Other large investors also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of FOX in the 3rd quarter worth approximately $51,000. Quarry LP purchased a new position in FOX during the third quarter worth $70,000. Versant Capital Management Inc increased its position in FOX by 3,551.1% during the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after acquiring an additional 1,669 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in shares of FOX in the third quarter valued at $119,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of FOX in the 3rd quarter worth about $141,000. 52.52% of the stock is owned by institutional investors.

Insider Buying and Selling at FOX

In related 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 value of $8,637,177.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Nallen sold 182,481 shares of the business’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 transaction of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, 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. Insiders sold a total of 469,352 shares of company stock worth $20,822,072 over the last three months. Corporate insiders own 21.77% of the company’s stock.

FOX Trading Up 0.6 %

FOXA opened at $49.63 on Tuesday. Fox Co. has a 12 month low of $28.28 and a 12 month high of $50.63. The stock has a fifty day moving average price of $46.76 and a 200-day moving average price of $41.85. The firm has a market cap of $22.67 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.21 and a beta of 0.77. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Evercore ISI upgraded FOX to a “hold” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Cfra reiterated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their target price on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Hold” and a consensus target price of $46.87.

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.