Exchange Traded Concepts LLC Buys New Stake in Fox Co. (NASDAQ:FOX)

Exchange Traded Concepts LLC purchased a new position in Fox Co. (NASDAQ:FOX) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,294 shares of the company’s stock, valued at approximately $128,000.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of FOX by 692.1% during the 2nd quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after acquiring an additional 1,232 shares during the last quarter. Friedenthal Financial bought a new position in FOX during the second quarter valued at $51,000. Central Pacific Bank Trust Division purchased a new stake in shares of FOX during the 1st quarter valued at about $97,000. GAMMA Investing LLC lifted its holdings in shares of FOX by 267.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock valued at $113,000 after acquiring an additional 2,569 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of FOX by 280.5% in the 1st quarter. Covestor Ltd now owns 3,995 shares of the company’s stock valued at $114,000 after acquiring an additional 2,945 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at FOX

In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 19.21% of the stock is owned by corporate insiders.

FOX Trading Up 0.5 %

Shares of NASDAQ FOX opened at $38.70 on Wednesday. Fox Co. has a fifty-two week low of $25.82 and a fifty-two week high of $39.32. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The company has a market cap of $18.06 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 2.01 and a beta of 0.81. The business’s 50 day moving average price is $37.91 and its 200-day moving average price is $33.93.

FOX (NASDAQ:FOX) last released its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the firm posted $0.88 earnings per share. On average, sell-side analysts expect that Fox Co. will post 3.59 earnings per share for the current year.

FOX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a dividend of $0.27 per share. This is a positive change from FOX’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, September 4th. This represents a $1.08 dividend on an annualized basis and a yield of 2.79%. FOX’s dividend payout ratio (DPR) is presently 16.93%.

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.