Brooklyn Investment Group Grows Stock Position in Fox Co. (NASDAQ:FOXA)

Brooklyn Investment Group lifted its holdings in shares of Fox Co. (NASDAQ:FOXA) by 142.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 793 shares of the company’s stock after acquiring an additional 466 shares during the period. Brooklyn Investment Group’s holdings in FOX were worth $39,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FOXA. Independent Franchise Partners LLP boosted its stake in FOX by 3.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after purchasing an additional 597,450 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of FOX by 44,205.3% in the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after buying an additional 7,897,710 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of FOX by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock worth $129,180,000 after buying an additional 268,778 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after buying an additional 492,467 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of FOX by 228.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after acquiring an additional 964,737 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Down 0.7 %

Shares of NASDAQ FOXA opened at $48.00 on Monday. Fox Co. has a 52-week low of $28.28 and a 52-week high of $50.63. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company’s 50-day simple moving average is $47.72 and its 200-day simple moving average is $42.69. The firm has a market cap of $21.92 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.19 and a beta of 0.75.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 earnings per share 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 business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the business posted $1.09 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts predict that Fox Co. will post 4.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on 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 transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO John Nallen sold 182,481 shares of the firm’s 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 directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock valued at $20,822,072 in the last 90 days. 21.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on FOXA shares. Deutsche Bank Aktiengesellschaft lifted their price target on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Bank of America lifted their target price on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Loop Capital increased their price target on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Citigroup lifted their price objective on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company increased their price objective on shares of FOX from $49.00 to $59.00 and gave the stock an “underweight” rating in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.

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.