Nordea Investment Management AB Lowers Stake in Fox Co. (NASDAQ:FOXA)

Nordea Investment Management AB reduced its stake in shares of Fox Co. (NASDAQ:FOXA) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,724 shares of the company’s stock after selling 552 shares during the quarter. Nordea Investment Management AB’s holdings in FOX were worth $1,013,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of FOX during the third quarter valued at $51,000. Quarry LP bought a new stake in shares of FOX in the third quarter valued at about $70,000. Versant Capital Management Inc raised its holdings in shares of FOX by 3,551.1% in 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 in the last quarter. Transamerica Financial Advisors Inc. bought a new stake in shares of FOX in the third quarter valued at about $119,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of FOX in the third quarter valued at about $141,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FOX

In related news, COO John Nallen sold 182,481 shares of the stock in a transaction on Tuesday, November 5th. The stock was 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 of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 469,352 shares of company stock valued at $20,822,072 in the last three months. 21.77% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FOXA has been the subject of several recent research reports. Citigroup lifted their price objective on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Evercore ISI upgraded FOX to a “hold” rating in a report on Tuesday, November 5th. Loop Capital boosted their target price on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Morgan Stanley boosted their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Bank of America boosted their target price on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.53.

FOX Trading Down 1.6 %

FOX stock opened at $48.19 on Monday. 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 Co. has a 12 month low of $28.28 and a 12 month high of $50.63. The stock’s 50 day simple moving average is $47.31 and its two-hundred day simple moving average is $42.25. The firm has a market cap of $22.01 billion, a PE ratio of 11.78, a P/E/G ratio of 1.21 and a beta of 0.75.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 EPS. Analysts anticipate that Fox Co. will post 3.94 earnings per share for the current year.

FOX Profile

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.