Sowell Financial Services LLC Invests $2.51 Million in Fox Co. (NASDAQ:FOXA)

Sowell Financial Services LLC acquired a new stake in shares of Fox Co. (NASDAQ:FOXA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 44,313 shares of the company’s stock, valued at approximately $2,508,000.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its stake in shares of FOX by 152.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company’s stock worth $1,800,000 after purchasing an additional 19,181 shares during the period. Optas LLC increased its stake in FOX by 29.2% in the first quarter. Optas LLC now owns 7,395 shares of the company’s stock valued at $419,000 after purchasing an additional 1,673 shares during the last quarter. Ritholtz Wealth Management lifted its position in FOX by 153.0% during the first quarter. Ritholtz Wealth Management now owns 25,568 shares of the company’s stock worth $1,447,000 after buying an additional 15,464 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in FOX by 10.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,535 shares of the company’s stock worth $653,000 after buying an additional 1,067 shares during the period. Finally, Salem Investment Counselors Inc. boosted its stake in FOX by 240.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,416 shares of the company’s stock worth $80,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Performance

FOX stock opened at $55.32 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. Fox Co. has a one year low of $32.76 and a one year high of $58.74. The stock’s 50 day moving average price is $52.24 and its 200 day moving average price is $51.76. The firm has a market capitalization of $24.87 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 earnings per share. As a group, sell-side analysts expect that Fox Co. will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling at FOX

In related news, CFO Steven Tomsic sold 5,607 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the transaction, the chief financial officer now owns 133,923 shares in the company, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on FOXA. Barclays reiterated an “outperform” rating on shares of FOX in a report on Tuesday, May 13th. Wolfe Research downgraded shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price target on the stock. in a research note on Monday, April 7th. Morgan Stanley lifted their price target on shares of FOX from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, May 13th. Cowen restated a “hold” rating on shares of FOX in a report on Tuesday, May 13th. Finally, Loop Capital lifted their target price on FOX from $62.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $52.71.

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.