Tidal Investments LLC Buys 6,658 Shares of Fox Co. (NASDAQ:FOXA)

Tidal Investments LLC lifted its position in Fox Co. (NASDAQ:FOXA) by 24.6% in the third quarter, Holdings Channel reports. The firm owned 33,672 shares of the company’s stock after buying an additional 6,658 shares during the period. Tidal Investments LLC’s holdings in FOX were worth $1,425,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FOXA. Fifth Third Bancorp raised its holdings in shares of FOX by 108.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,488 shares of the company’s stock valued at $429,000 after purchasing an additional 6,495 shares in the last quarter. Retirement Systems of Alabama raised its stake in FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after buying an additional 912,250 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in FOX by 4.4% during the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock worth $333,000 after buying an additional 406 shares during the period. Verdence Capital Advisors LLC boosted its position in FOX by 3.5% during the 2nd quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock valued at $461,000 after acquiring an additional 458 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of FOX by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 987,444 shares of the company’s stock valued at $33,938,000 after acquiring an additional 12,321 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 469,352 shares of company stock valued at $20,822,072 over the last 90 days. Insiders own 21.77% of the company’s stock.

FOX Stock Up 0.7 %

Shares of FOXA stock opened at $49.43 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $50.63. The firm has a market capitalization of $22.58 billion, a PE ratio of 12.09, a P/E/G ratio of 1.18 and a beta of 0.77. The stock’s 50-day simple moving average is $44.83 and its 200-day simple moving average is $40.39.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen raised their price target on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. StockNews.com lowered shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group raised their target price on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Guggenheim upped their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.47.

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.