Longboard Asset Management LP Takes Position in Fox Co. (NASDAQ:FOXA)

Longboard Asset Management LP acquired a new position in shares of Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,775 shares of the company’s stock, valued at approximately $232,000.

Several other large investors have also recently bought and sold shares of FOXA. Crossmark Global Holdings Inc. grew its holdings in shares of FOX by 1.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after acquiring an additional 385 shares during the period. Ritholtz Wealth Management increased its position in shares of FOX by 4.1% in the fourth quarter. Ritholtz Wealth Management now owns 10,104 shares of the company’s stock valued at $491,000 after buying an additional 399 shares in the last quarter. Kathmere Capital Management LLC increased its position in shares of FOX by 9.0% in the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock valued at $255,000 after buying an additional 431 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of FOX by 1.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after buying an additional 451 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after buying an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 21.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FOXA. Barclays lifted their target price on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Evercore ISI upgraded FOX to a “hold” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on FOX from $42.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Citigroup boosted their price target on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Macquarie reaffirmed a “neutral” rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, FOX has an average rating of “Hold” and a consensus price target of $48.25.

FOX Stock Performance

NASDAQ:FOXA opened at $51.95 on Tuesday. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $52.14. The firm’s 50 day moving average is $48.35 and its two-hundred day moving average is $43.72. The company has a market cap of $23.73 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.25 and a beta of 0.76. 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 (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. Analysts expect that Fox Co. will post 4.12 EPS for the current year.

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.