Sone Capital Management LLC Invests $6.56 Million in Fox Co. (NASDAQ:FOX)

Sone Capital Management LLC acquired a new stake in Fox Co. (NASDAQ:FOX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 143,516 shares of the company’s stock, valued at approximately $6,564,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX in the fourth quarter valued at about $29,000. CIBC Private Wealth Group LLC lifted its stake in FOX by 135.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company’s stock valued at $42,000 after buying an additional 522 shares in the last quarter. Principal Securities Inc. lifted its stake in FOX by 51.5% in the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after buying an additional 362 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in FOX by 82.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company’s stock valued at $61,000 after buying an additional 608 shares during the last quarter. Finally, Westpac Banking Corp increased its position in FOX by 84.0% during the fourth quarter. Westpac Banking Corp now owns 1,625 shares of the company’s stock worth $74,000 after buying an additional 742 shares in the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Moffett Nathanson downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.06% of the company’s stock.

FOX Price Performance

FOX stock opened at $51.85 on Monday. The stock has a market capitalization of $23.31 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.55 and a beta of 0.56. Fox Co. has a 12-month low of $30.10 and a 12-month high of $55.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The firm’s 50-day moving average is $47.61 and its two-hundred day moving average is $47.24.

FOX (NASDAQ:FOX) last announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.19 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. Equities analysts predict that Fox Co. will post 4.25 earnings per share for the current year.

FOX Company Profile

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.