Atomi Financial Group Inc. Raises Stock Position in Fox Co. (NASDAQ:FOXA)

Atomi Financial Group Inc. lifted its position in shares of Fox Co. (NASDAQ:FOXA) by 12.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,917 shares of the company’s stock after buying an additional 994 shares during the period. Atomi Financial Group Inc.’s holdings in FOX were worth $433,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group boosted its position in FOX by 142.5% during the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares in the last quarter. Quest Partners LLC acquired a new position in shares of FOX during the 3rd quarter worth $51,000. Quarry LP purchased a new stake in shares of FOX in the 3rd quarter worth about $70,000. Versant Capital Management Inc increased its holdings in FOX by 3,551.1% during the 4th 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. Finally, Transamerica Financial Advisors Inc. acquired a new position in FOX during the third quarter worth about $119,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA opened at $49.07 on Friday. 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 1-year low of $28.28 and a 1-year high of $50.63. The firm has a market capitalization of $22.41 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.19 and a beta of 0.75. The business’s 50-day simple moving average is $47.83 and its 200-day simple moving average is $43.01.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts predict that Fox Co. will post 4.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FOXA. Guggenheim raised their price objective on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their price target on FOX from $49.00 to $59.00 and gave the stock an “underweight” rating in a report on Friday, January 10th. TD Cowen increased their price objective on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. UBS Group lifted their price objective on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Macquarie reaffirmed a “neutral” rating and set a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.25.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s 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 in the company, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction 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 $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders 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.