NINE MASTS CAPITAL Ltd Cuts Position in Fox Co. (NASDAQ:FOX)

NINE MASTS CAPITAL Ltd lessened its position in shares of Fox Co. (NASDAQ:FOX) by 77.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 31,927 shares of the company’s stock after selling 111,405 shares during the period. NINE MASTS CAPITAL Ltd’s holdings in FOX were worth $1,022,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in FOX by 692.1% in the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after buying an additional 1,232 shares during the last quarter. Friedenthal Financial purchased a new stake in FOX during the second quarter worth approximately $51,000. V Square Quantitative Management LLC boosted its holdings in FOX by 20.8% in the fourth quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock valued at $94,000 after purchasing an additional 585 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in FOX in the first quarter valued at approximately $97,000. Finally, GAMMA Investing LLC raised its holdings in FOX by 267.9% during the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock worth $113,000 after purchasing an additional 2,569 shares in the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other FOX news, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. 19.21% of the stock is owned by insiders.

FOX Price Performance

FOX stock opened at $36.43 on Thursday. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $17.00 billion, a P/E ratio of 11.42, a PEG ratio of 1.95 and a beta of 0.81. The business has a 50 day simple moving average of $35.81 and a 200-day simple moving average of $31.70. Fox Co. has a twelve month low of $25.82 and a twelve month high of $38.51.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the business earned $0.88 EPS. As a group, equities analysts anticipate that Fox Co. will post 3.59 EPS for the current year.

FOX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This is an increase from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 2.96%. FOX’s dividend payout ratio is currently 16.93%.

Analyst Ratings Changes

Separately, Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.