Intech Investment Management LLC Takes $5.04 Million Position in Fox Co. (NASDAQ:FOXA)

Intech Investment Management LLC acquired a new position in shares of Fox Co. (NASDAQ:FOXA) in the third quarter, Holdings Channel reports. The institutional investor acquired 119,125 shares of the company’s stock, valued at approximately $5,043,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV boosted its position in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial acquired a new stake in shares of FOX in the second quarter valued at $51,000. Quest Partners LLC purchased a new stake in shares of FOX in the 3rd quarter valued at $51,000. Duncker Streett & Co. Inc. acquired a new position in FOX during the 2nd quarter worth about $52,000. Finally, Bessemer Group Inc. boosted its holdings in FOX by 11.0% during the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after acquiring an additional 326 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FOXA has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Bank of America boosted their price objective on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, UBS Group increased their target price on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.00.

FOX Stock Up 0.5 %

Shares of NASDAQ:FOXA opened at $46.85 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company has a market cap of $21.40 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.17 and a beta of 0.76. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The firm’s 50-day simple moving average is $42.88 and its 200-day simple moving average is $38.64.

FOX (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping 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 company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS. As a group, equities research analysts predict that Fox Co. will post 3.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Company Profile

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.