Fox Corporation $FOX Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in shares of Fox Corporation (NASDAQ:FOX) by 280.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 41,675 shares of the company’s stock after purchasing an additional 30,728 shares during the quarter. SG Americas Securities LLC’s holdings in FOX were worth $2,152,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FOX. Federated Hermes Inc. raised its holdings in shares of FOX by 66.2% during the 1st quarter. Federated Hermes Inc. now owns 580 shares of the company’s stock worth $31,000 after acquiring an additional 231 shares during the period. IFP Advisors Inc increased its position in FOX by 457.6% during the first quarter. IFP Advisors Inc now owns 697 shares of the company’s stock worth $37,000 after purchasing an additional 572 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in FOX by 183.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 801 shares of the company’s stock worth $42,000 after purchasing an additional 518 shares during the period. SVB Wealth LLC acquired a new position in FOX in the 1st quarter valued at about $69,000. Finally, Covestor Ltd grew its stake in shares of FOX by 37.0% in the 1st quarter. Covestor Ltd now owns 1,402 shares of the company’s stock valued at $74,000 after buying an additional 379 shares during the period. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Paul D. Ryan sold 17,767 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $64.36, for a total transaction of $1,143,484.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Steven Tomsic sold 138,397 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $66.54, for a total value of $9,208,936.38. Following the completion of the sale, the chief financial officer directly owned 180,556 shares in the company, valued at $12,014,196.24. This represents a 43.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 324,920 shares of company stock valued at $21,485,254 in the last ninety days. Company insiders own 23.06% of the company’s stock.

FOX Price Performance

FOX stock opened at $58.26 on Thursday. The business’s fifty day moving average price is $55.32 and its 200 day moving average price is $52.75. Fox Corporation has a 12-month low of $42.94 and a 12-month high of $60.73. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $25.86 billion, a PE ratio of 13.09, a P/E/G ratio of 1.30 and a beta of 0.57.

FOX (NASDAQ:FOX) last announced its earnings results on Thursday, October 30th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.45. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%. On average, sell-side analysts anticipate that Fox Corporation will post 4.25 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Cfra reaffirmed a “buy” rating and set a $73.00 price target on shares of FOX in a research report on Monday, November 3rd. Weiss Ratings restated a “buy (b)” rating on shares of FOX in a research report on Friday, October 31st. Fox Advisors set a $97.00 price target on FOX in a report on Tuesday, October 28th. UBS Group reissued a “buy” rating on shares of FOX in a research report on Friday, October 31st. Finally, Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, FOX currently has a consensus rating of “Buy” and an average target price of $81.67.

FOX 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.