Fox Corporation $FOXA Stock Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. cut its position in shares of Fox Corporation (NASDAQ:FOXA) by 27.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 698,905 shares of the company’s stock after selling 265,514 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in FOX were worth $43,786,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB bought a new position in FOX in the third quarter valued at $44,000. PFS Partners LLC acquired a new stake in FOX in the 3rd quarter valued at $44,000. Elevation Wealth Partners LLC boosted its stake in shares of FOX by 811.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 911 shares of the company’s stock worth $57,000 after buying an additional 811 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of FOX by 75.7% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,056 shares of the company’s stock valued at $66,000 after buying an additional 455 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of FOX by 99.1% in the 3rd quarter. Covestor Ltd now owns 1,105 shares of the company’s stock valued at $69,000 after acquiring an additional 550 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $68.42 on Friday. The firm’s fifty day moving average is $64.87 and its 200-day moving average is $62.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.50 and a current ratio of 3.79. Fox Corporation has a 52 week low of $48.34 and a 52 week high of $76.39. The firm has a market cap of $28.86 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.07 and a beta of 0.63.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 2nd. The company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.52. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.32 billion. FOX had a net margin of 11.30% and a return on equity of 23.96%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.51 earnings per share. Sell-side analysts predict that Fox Corporation will post 6.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Lachlan Murdoch acquired 149,934 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the purchase, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 20.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FOXA. Wells Fargo & Company upgraded shares of FOX from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $65.00 to $80.00 in a research note on Friday, August 14th. Raymond James Financial raised shares of FOX to a “strong-buy” rating in a report on Friday, October 16th. Jefferies Financial Group cut FOX to a “hold” rating in a research report on Friday, October 16th. JPMorgan Chase & Co. lifted their target price on FOX from $82.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, November 3rd. Finally, Guggenheim reissued a “buy” rating and issued a $85.00 target price on shares of FOX in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.84.

About FOX

Fox Corporation is a media company focused primarily on news, sports and entertainment for audiences in the United States. Its businesses include Fox News Media, Fox Sports and Fox Entertainment, which produce and distribute television programming, news coverage, live sports and entertainment content. The company also operates the Fox broadcast network and local television stations, and offers streaming services including Tubi, an ad-supported streaming platform, and Fox Nation, a subscription service.