Prestige Wealth Management Group LLC Grows Position in Fox Co. (NASDAQ:FOXA)

Prestige Wealth Management Group LLC increased its position in shares of Fox Co. (NASDAQ:FOXA) by 14.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,445 shares of the company’s stock after buying an additional 569 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in FOX were worth $188,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp grew its stake in shares of FOX by 7.4% in the 3rd quarter. M&T Bank Corp now owns 14,645 shares of the company’s stock valued at $620,000 after purchasing an additional 1,010 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of FOX by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,082 shares of the company’s stock valued at $2,924,000 after purchasing an additional 590 shares during the last quarter. iA Global Asset Management Inc. grew its stake in shares of FOX by 241,314.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 16,899 shares of the company’s stock valued at $715,000 after purchasing an additional 16,892 shares during the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of FOX by 220.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 107,631 shares of the company’s stock valued at $4,556,000 after purchasing an additional 74,095 shares during the last quarter. Finally, Sora Investors LLC purchased a new position in shares of FOX in the 3rd quarter valued at approximately $3,175,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 469,352 shares of company stock valued at $20,822,072 over the last quarter. Company insiders own 21.77% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA opened at $46.37 on Wednesday. The stock has a market cap of $21.18 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.21 and a beta of 0.77. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The business has a fifty day moving average of $44.04 and a 200-day moving average of $39.77.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. As a group, analysts predict that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FOXA has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Evercore ISI upgraded FOX to a “hold” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.00.

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.