Fox Co. (NASDAQ:FOXA) Stock Position Trimmed by Crestline Management LP

Crestline Management LP decreased its position in Fox Co. (NASDAQ:FOXA) by 69.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,096 shares of the company’s stock after selling 16,021 shares during the period. Crestline Management LP’s holdings in FOX were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in FOX in the 4th quarter worth approximately $20,129,000. Caption Management LLC bought a new position in shares of FOX in the fourth quarter worth $1,881,000. Cetera Investment Advisers increased its holdings in shares of FOX by 5.5% during the fourth quarter. Cetera Investment Advisers now owns 24,643 shares of the company’s stock valued at $1,197,000 after purchasing an additional 1,290 shares during the period. Brevan Howard Capital Management LP increased its holdings in shares of FOX by 415.9% during the fourth quarter. Brevan Howard Capital Management LP now owns 147,910 shares of the company’s stock valued at $7,185,000 after purchasing an additional 119,241 shares during the period. Finally, Captrust Financial Advisors bought a new stake in shares of FOX during the fourth quarter valued at about $306,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Price Performance

FOXA opened at $50.23 on Friday. The firm has a market capitalization of $22.78 billion, a P/E ratio of 10.76, a PEG ratio of 1.27 and a beta of 0.51. The stock has a fifty day moving average of $51.35 and a 200-day moving average of $49.89. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a 12-month low of $32.45 and a 12-month high of $58.74.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company posted $0.34 EPS. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. Equities analysts forecast that Fox Co. will post 4.38 EPS for the current fiscal year.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % 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 owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Barclays lowered their price objective on shares of FOX from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Cfra Research raised FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Finally, Wolfe Research lowered FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price objective for the company. in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.65.

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.