Edgestream Partners L.P. Sells 249,565 Shares of Fox Co. (NASDAQ:FOX)

Edgestream Partners L.P. lowered its position in shares of Fox Co. (NASDAQ:FOX) by 82.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,523 shares of the company’s stock after selling 249,565 shares during the quarter. Edgestream Partners L.P.’s holdings in FOX were worth $2,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in FOX in the second quarter worth about $65,709,000. Independent Franchise Partners LLP increased its stake in shares of FOX by 14.5% during the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock worth $160,863,000 after purchasing an additional 636,247 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of FOX by 448.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,900 shares of the company’s stock worth $27,661,000 after purchasing an additional 582,900 shares during the period. Regal Partners Ltd purchased a new position in FOX in the second quarter valued at approximately $16,398,000. Finally, Bank of Montreal Can grew its holdings in FOX by 232.1% during the third quarter. Bank of Montreal Can now owns 449,296 shares of the company’s stock valued at $17,451,000 after purchasing an additional 313,998 shares during the period. Institutional investors own 26.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on FOX shares. Barclays upgraded FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th.

FOX Stock Down 0.7 %

FOX stock opened at $44.41 on Tuesday. The firm has a 50 day simple moving average of $40.52 and a 200 day simple moving average of $36.51. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. Fox Co. has a 1-year low of $25.82 and a 1-year high of $44.89. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 1.71 and a beta of 0.81.

Insider Activity at FOX

In other news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,053,505 shares of company stock worth $47,705,970. 23.06% of the stock is owned by company insiders.

About FOX

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.