Fox Corporation $FOX Stock: Profund Advisors LLC Decreases Position

Profund Advisors LLC lessened its position in shares of Fox Corporation (NASDAQ:FOX) by 76.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,192 shares of the company’s stock after selling 16,515 shares during the period. Profund Advisors LLC’s holdings in FOX were worth $292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC acquired a new position in shares of FOX during the 2nd quarter worth about $35,047,000. Assenagon Asset Management S.A. raised its position in shares of FOX by 54.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 655,706 shares of the company’s stock worth $36,916,000 after acquiring an additional 231,724 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of FOX by 10.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock worth $31,073,000 after acquiring an additional 53,166 shares in the last quarter. Gabelli Funds LLC lifted its stake in FOX by 2.3% during the first quarter. Gabelli Funds LLC now owns 579,800 shares of the company’s stock worth $30,787,000 after purchasing an additional 13,200 shares during the last quarter. Finally, Cooper Investors PTY Ltd. purchased a new stake in FOX during the third quarter worth approximately $24,136,000. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at FOX

In other news, CEO Lachlan Murdoch acquired 149,934 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the acquisition, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Seaport Research Partners lowered shares of FOX from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Guggenheim restated a “buy” rating on shares of FOX in a research report on Tuesday, August 25th. Royal Bank Of Canada set a $95.00 target price on shares of FOX in a report on Tuesday, October 20th. Finally, JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and increased their target price for the company from $70.00 to $82.00 in a research report on Friday, August 14th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $79.50.

FOX Stock Down 0.8%

FOX stock opened at $59.50 on Friday. Fox Corporation has a fifty-two week low of $44.08 and a fifty-two week high of $68.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.99 and a current ratio of 3.79. The company has a market capitalization of $24.97 billion, a P/E ratio of 12.63, a PEG ratio of 1.30 and a beta of 0.66. The stock has a 50-day simple moving average of $57.92 and a 200-day simple moving average of $55.84.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.48. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.32 billion. FOX had a return on equity of 23.96% and a net margin of 11.30%. Equities research analysts expect that Fox Corporation will post 6.54 earnings per share for the current year.

FOX Profile

Fox Corporation is a U.S. media company that produces and distributes news, sports and entertainment programming. Its operations include the FOX broadcast network, Fox News Media, Fox Sports, FOX Entertainment and Fox Television Stations. The company also owns Tubi, an ad-supported streaming service.

Fox Corporation was formed in 2019 after The Walt Disney Company acquired much of 21st Century Fox. The company’s programming and services are primarily aimed at audiences in the United States, with content also distributed to viewers in other markets.

Lachlan Murdoch serves as Fox Corporation’s executive chair and chief executive officer.