Bayesian Capital Management LP Purchases New Holdings in Fox Co. (NASDAQ:FOXA)

Bayesian Capital Management LP acquired a new position in Fox Co. (NASDAQ:FOXA) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 74,129 shares of the company’s stock, valued at approximately $2,318,000.

Several other institutional investors also recently modified their holdings of FOXA. Global Retirement Partners LLC raised its position in FOX by 862.2% in the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after purchasing an additional 845 shares during the last quarter. UMB Bank n.a. lifted its position in FOX by 254.4% in the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after acquiring an additional 809 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in FOX in the 4th quarter worth $43,000. GAMMA Investing LLC acquired a new stake in shares of FOX in the 4th quarter valued at about $53,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of FOX in the first quarter valued at about $66,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA traded up $0.50 on Tuesday, reaching $38.29. The stock had a trading volume of 882,224 shares, compared to its average volume of 3,049,646. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The company has a market cap of $17.87 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.77. The firm has a fifty day moving average of $34.79 and a two-hundred day moving average of $32.28. Fox Co. has a 1-year low of $28.28 and a 1-year high of $38.36.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.11. FOX had a net margin of 11.19% and a return on equity of 15.90%. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.44 billion. On average, equities research analysts anticipate that Fox Co. will post 3.35 EPS for the current year.

Insider Activity at FOX

In other FOX news, CFO Steven Tomsic sold 30,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the transaction, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the sale, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total value of $407,006.64. Following the completion of the transaction, the chairman now owns 1,408,862 shares of the company’s stock, valued at $43,519,747.18. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FOXA has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 target price on shares of FOX in a research report on Monday, July 1st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $34.00 target price on shares of FOX in a research report on Monday, April 15th. Bank of America raised shares of FOX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $40.00 in a research report on Thursday, May 9th. Barclays lifted their target price on FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, May 13th. Finally, Seaport Res Ptn raised FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.38.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.