Fox Co. (NASDAQ:FOXA) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its stake in shares of Fox Co. (NASDAQ:FOXA) by 43.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,948 shares of the company’s stock after selling 7,540 shares during the quarter. Los Angeles Capital Management LLC’s holdings in FOX were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its position in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares in the last quarter. Friedenthal Financial acquired a new position in FOX in the second quarter worth $51,000. Duncker Streett & Co. Inc. acquired a new position in FOX in the second quarter worth $52,000. Covestor Ltd boosted its holdings in FOX by 283.0% in the first quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after purchasing an additional 2,128 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in FOX by 11.0% in the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock worth $103,000 after purchasing an additional 326 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on FOXA shares. Guggenheim lifted their price objective on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays lifted their price objective on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their target price on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Macquarie reiterated a “neutral” rating and issued a $43.00 target price on shares of FOX in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction dated Wednesday, November 6th. The stock was 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 $52,935,147.10. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

FOX Price Performance

Shares of NASDAQ FOXA opened at $45.64 on Monday. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The firm’s 50-day simple moving average is $42.23 and its 200 day simple moving average is $38.24. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The stock has a market cap of $21.00 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 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 firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the business earned $1.09 earnings per share. FOX’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts expect that Fox Co. will post 3.94 EPS for the current year.

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.