Mackay Shields LLC purchased a new stake in shares of Fox Corp (NASDAQ:FOX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 330,431 shares of the company’s stock, valued at approximately $10,421,000. Mackay Shields LLC owned approximately 0.05% of FOX as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FOX. Truvestments Capital LLC purchased a new position in shares of FOX in the third quarter worth about $42,000. Hall Laurie J Trustee bought a new stake in shares of FOX in the third quarter worth about $57,000. Quest Capital Management Inc. ADV bought a new stake in shares of FOX in the third quarter worth about $57,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of FOX in the third quarter worth about $63,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of FOX in the third quarter worth about $69,000. Institutional investors and hedge funds own 23.58% of the company’s stock.
FOX stock opened at $32.33 on Thursday. The stock’s 50 day simple moving average is $31.49 and its two-hundred day simple moving average is $34.57. The company has a quick ratio of 3.12, a current ratio of 3.78 and a debt-to-equity ratio of 0.68. Fox Corp has a fifty-two week low of $29.61 and a fifty-two week high of $41.73.
FOX (NASDAQ:FOX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter. The firm had revenue of $2.51 billion for the quarter.
Several analysts recently issued reports on the company. Zacks Investment Research cut FOX from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. BidaskClub cut FOX from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. FOX has an average rating of “Hold” and an average target price of $42.67.
In other news, Director Roland A. Hernandez acquired 3,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $34.91 per share, with a total value of $104,730.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch acquired 500,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were purchased at an average cost of $32.06 per share, for a total transaction of $16,030,000.00. Following the completion of the transaction, the chairman now owns 805,714 shares in the company, valued at approximately $25,831,190.84. The disclosure for this purchase can be found here. Insiders own 17.47% of the company’s stock.
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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