Anchor Investment Management LLC Lowers Position in Fox Co. (NASDAQ:FOXA)

Anchor Investment Management LLC decreased its stake in Fox Co. (NASDAQ:FOXA) by 11.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,318 shares of the company’s stock after selling 1,805 shares during the period. Anchor Investment Management LLC’s holdings in FOX were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FOXA. Pacer Advisors Inc. increased its holdings in FOX by 44,205.3% in the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after acquiring an additional 7,897,710 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of FOX by 228.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after purchasing an additional 964,737 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of 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 purchasing an additional 912,250 shares during the last quarter. AXA S.A. lifted its position in shares of FOX by 294.2% in the second quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after buying an additional 663,089 shares in the last quarter. Finally, Independent Franchise Partners LLP boosted its stake in FOX by 3.3% during the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after buying an additional 597,450 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Trading Up 2.8 %

NASDAQ FOXA opened at $47.34 on Friday. The stock has a market cap of $21.62 billion, a PE ratio of 11.57, a PEG ratio of 1.18 and a beta of 0.77. Fox Co. has a 12 month low of $28.28 and a 12 month high of $47.58. The company’s 50-day moving average price is $44.21 and its 200-day moving average price is $39.90. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

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

Insiders Place Their Bets

In other 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 value of $4,205,000.00. Following the completion of the transaction, the chairman now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction dated 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 owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock worth $20,822,072 in the last ninety days. 21.77% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Macquarie reaffirmed a “neutral” rating and set a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. Evercore ISI raised shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Guggenheim upped their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Loop Capital lifted their price target on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $44.00.

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.