Harbor Advisors LLC Purchases Shares of 4,766 Fox Co. (NASDAQ:FOXA)

Harbor Advisors LLC purchased a new stake in shares of Fox Co. (NASDAQ:FOXA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,766 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds also recently modified their holdings of FOXA. Paloma Partners Management Co lifted its stake in shares of FOX by 672.7% in the third quarter. Paloma Partners Management Co now owns 17,000 shares of the company’s stock worth $720,000 after acquiring an additional 14,800 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of FOX in the 3rd quarter valued at $8,531,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in FOX by 18.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,869 shares of the company’s stock worth $2,831,000 after buying an additional 10,261 shares during the last quarter. CreativeOne Wealth LLC boosted its position in FOX by 72.5% during the third quarter. CreativeOne Wealth LLC now owns 20,914 shares of the company’s stock valued at $885,000 after acquiring an additional 8,788 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in FOX by 244.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 389,470 shares of the company’s stock worth $16,486,000 after acquiring an additional 276,259 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Buying and Selling at FOX

In related news, 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 completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 469,352 shares of company stock valued at $20,822,072. Corporate insiders own 21.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FOXA. Loop Capital boosted their price target on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barclays raised their target price on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group upped their price target on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Evercore ISI raised FOX to a “hold” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.00.

FOX Stock Down 0.7 %

FOXA opened at $46.77 on Tuesday. The company’s 50-day moving average price is $43.50 and its two-hundred day moving average price is $39.19. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. Fox Co. has a twelve month low of $28.28 and a twelve month high of $47.58. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.21 and a beta of 0.77.

FOX (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that Fox Co. will post 3.94 earnings per share for the current year.

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.