Franklin Resources Inc. Boosts Stake in Fox Co. (NASDAQ:FOX)

Franklin Resources Inc. raised its position in Fox Co. (NASDAQ:FOX) by 457.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,332 shares of the company’s stock after purchasing an additional 36,380 shares during the quarter. Franklin Resources Inc.’s holdings in FOX were worth $1,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its stake in FOX by 136.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after acquiring an additional 449 shares in the last quarter. Intact Investment Management Inc. bought a new position in shares of FOX during the third quarter valued at approximately $74,000. Exchange Traded Concepts LLC bought a new position in shares of FOX during the third quarter valued at approximately $128,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of FOX during the second quarter valued at approximately $136,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of FOX by 1,269.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,560 shares of the company’s stock valued at $138,000 after purchasing an additional 3,300 shares in the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Down 0.6 %

Shares of NASDAQ FOX opened at $46.63 on Friday. The company’s 50-day simple moving average is $43.11 and its 200-day simple moving average is $38.30. Fox Co. has a 52-week low of $25.82 and a 52-week high of $47.80. The firm has a market cap of $21.30 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.58 and a beta of 0.83. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

Insider Buying and Selling

In other news, 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 sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total transaction of $35,521,075.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,053,505 shares of company stock worth $47,705,970. 23.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on FOX. Barclays raised shares of FOX to a “hold” rating in a research report on Wednesday, October 9th. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th.

FOX 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.