Fox Co. (NASDAQ:FOXA) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its stake in Fox Co. (NASDAQ:FOXA) by 17.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,752 shares of the company’s stock after selling 569 shares during the quarter. Exchange Traded Concepts LLC’s holdings in FOX were worth $134,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FOXA. Algert Global LLC acquired a new stake in FOX during the second quarter worth about $362,000. Creative Planning grew its stake in shares of FOX by 119.2% in the 2nd quarter. Creative Planning now owns 29,277 shares of the company’s stock valued at $1,006,000 after buying an additional 15,921 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of FOX during the 2nd quarter worth approximately $962,000. Czech National Bank raised its position in shares of FOX by 3.9% during the 3rd quarter. Czech National Bank now owns 45,762 shares of the company’s stock valued at $1,937,000 after buying an additional 1,714 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in FOX by 65.1% in the third quarter. GAMMA Investing LLC now owns 5,505 shares of the company’s stock valued at $233,000 after acquiring an additional 2,171 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Buying and Selling at FOX

In related news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 469,352 shares of company stock valued at $20,822,072. Insiders own 21.77% of the company’s stock.

FOX Price Performance

Shares of NASDAQ FOXA opened at $51.18 on Friday. The stock’s 50-day moving average is $48.35 and its two-hundred day moving average is $43.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The company has a market cap of $23.38 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. Fox Co. has a 1-year low of $28.28 and a 1-year high of $52.04.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts forecast that Fox Co. will post 4.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on FOXA. TD Cowen raised their target price on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Loop Capital raised their price objective on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their target price on shares of FOX from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price objective on shares of FOX from $49.00 to $59.00 and gave the stock an “underweight” rating in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FOX currently has an average rating of “Hold” and an average target price of $48.25.

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.