Pictet Asset Management Holding SA lifted its position in Fox Corporation (NASDAQ:FOXA – Free Report) by 112.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 493,559 shares of the company’s stock after purchasing an additional 261,072 shares during the quarter. Pictet Asset Management Holding SA’s holdings in FOX were worth $30,921,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FOXA. Alps Advisors Inc. bought a new stake in FOX in the 3rd quarter valued at $736,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of FOX in the 3rd quarter valued at $226,000. Calamos Advisors LLC raised its stake in shares of FOX by 2.1% in the 3rd quarter. Calamos Advisors LLC now owns 143,628 shares of the company’s stock valued at $8,998,000 after buying an additional 2,906 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of FOX by 128.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 9,168 shares of the company’s stock worth $574,000 after acquiring an additional 5,150 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of FOX by 4.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,523 shares of the company’s stock worth $1,348,000 after acquiring an additional 943 shares during the period. 52.52% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Citizens Jmp assumed coverage on shares of FOX in a research report on Monday, September 14th. They set a “market outperform” rating and a $95.00 target price on the stock. Sanford C. Bernstein increased their price target on shares of FOX from $73.00 to $74.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 3rd. Jefferies Financial Group lowered shares of FOX to a “hold” rating in a research report on Friday, October 16th. Moffett Nathanson raised their price target on shares of FOX from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 23rd. Finally, KeyCorp downgraded FOX to a “sector weight” rating in a report on Friday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, FOX has an average rating of “Moderate Buy” and a consensus price target of $79.16.
Read Our Latest Analysis on FOX
Insider Buying and Selling at FOX
In other news, CEO Lachlan Murdoch bought 149,934 shares of the stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the acquisition, the chief executive officer owned 1,401,713 shares in the company, valued at $96,059,391.89. This trade represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 20.89% of the company’s stock.
FOX Stock Performance
Shares of NASDAQ:FOXA opened at $67.37 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.79 and a quick ratio of 3.50. The business’s fifty day moving average price is $64.85 and its two-hundred day moving average price is $62.12. Fox Corporation has a fifty-two week low of $48.34 and a fifty-two week high of $76.39. The stock has a market capitalization of $28.42 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.08 and a beta of 0.63.
FOX (NASDAQ:FOXA – Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.52. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.32 billion. FOX had a return on equity of 23.96% and a net margin of 11.30%. The business’s revenue was up 22.3% on a year-over-year basis. During the same period last year, the business earned $1.51 earnings per share. As a group, analysts predict that Fox Corporation will post 6.18 EPS for the current fiscal year.
FOX Company Profile
Fox Corporation is a media company focused primarily on news, sports and entertainment for audiences in the United States. Its businesses include Fox News Media, Fox Sports and Fox Entertainment, which produce and distribute television programming, news coverage, live sports and entertainment content. The company also operates the Fox broadcast network and local television stations, and offers streaming services including Tubi, an ad-supported streaming platform, and Fox Nation, a subscription service.
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