Man Group plc Acquires New Stake in Fox Co. (NASDAQ:FOXA)

Man Group plc bought a new position in Fox Co. (NASDAQ:FOXA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 66,675 shares of the company’s stock, valued at approximately $3,239,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. WealthTrak Capital Management LLC bought a new stake in shares of FOX during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX during the fourth quarter valued at about $28,000. Jones Financial Companies Lllp increased its position in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after buying an additional 249 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after buying an additional 368 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Trading Down 0.3%

Shares of FOXA opened at $54.98 on Friday. The company has a 50 day simple moving average of $51.63 and a two-hundred day simple moving average of $50.65. Fox Co. has a 1 year low of $32.66 and a 1 year high of $58.74. 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 has a market cap of $24.72 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the firm posted $1.40 earnings per share. FOX’s revenue for the quarter was up 26.8% compared to the same quarter last year. On average, equities analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Guggenheim reiterated a “buy” rating and set a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. Loop Capital upped their price target on shares of FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Cfra Research raised shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. JPMorgan Chase & Co. lifted their target price on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Barclays reaffirmed an “outperform” rating on shares of FOX in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.71.

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.