Plato Investment Management Ltd Sells 17,407 Shares of Fox Co. (NASDAQ:FOXA)

Plato Investment Management Ltd lessened its holdings in shares of Fox Co. (NASDAQ:FOXA) by 67.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,227 shares of the company’s stock after selling 17,407 shares during the period. Plato Investment Management Ltd’s holdings in FOX were worth $348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of FOX by 69.6% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,674 shares of the company’s stock worth $706,000 after buying an additional 6,843 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of FOX in the third quarter worth $620,000. Entropy Technologies LP bought a new position in shares of FOX during the third quarter valued at $546,000. Crossmark Global Holdings Inc. raised its position in shares of FOX by 1.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after purchasing an additional 385 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in FOX by 0.4% in the 3rd quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock worth $12,320,000 after purchasing an additional 1,178 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief operating officer now 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Stock Down 3.9 %

Shares of FOXA stock opened at $45.64 on Friday. The company has a 50 day simple moving average of $42.12 and a two-hundred day simple moving average of $38.04. The stock has a market cap of $21.00 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.20 and a beta of 0.76. Fox Co. has a 12 month low of $28.28 and a 12 month high of $47.58. 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 (NASDAQ:FOXA) last announced its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the firm earned $1.09 EPS. FOX’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts expect that Fox Co. will post 3.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FOXA shares. The Goldman Sachs Group raised their price objective on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. UBS Group increased their target price on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Finally, Loop Capital upped their price target on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.00.

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.