Assenagon Asset Management S.A. Sells 5,985 Shares of Fox Co. (NASDAQ:FOXA)

Assenagon Asset Management S.A. reduced its position in shares of Fox Co. (NASDAQ:FOXA) by 9.0% in the fourth quarter, Holdings Channel reports. The fund owned 60,774 shares of the company’s stock after selling 5,985 shares during the quarter. Assenagon Asset Management S.A.’s holdings in FOX were worth $2,952,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC bought a new position in shares of FOX during the 3rd quarter valued at approximately $51,000. Quarry LP bought a new position in shares of FOX during the 3rd quarter valued at approximately $70,000. Versant Capital Management Inc boosted its position in shares of FOX by 3,551.1% during the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after acquiring an additional 1,669 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new position in shares of FOX during the 3rd quarter valued at approximately $119,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of FOX during the 3rd quarter valued at approximately $141,000. 52.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, 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 transaction of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction dated Wednesday, November 6th. The shares were 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 owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 469,352 shares of company stock worth $20,822,072. Company insiders own 21.77% of the company’s stock.

FOX Stock Performance

Shares of FOX stock opened at $47.90 on Wednesday. The firm has a market cap of $21.88 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.19 and a beta of 0.75. 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 Co. has a 12 month low of $28.28 and a 12 month high of $50.63. The stock’s fifty day moving average price is $47.76 and its 200-day moving average price is $42.84.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. On average, equities research analysts expect that Fox Co. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FOXA has been the subject of a number of analyst reports. Loop Capital raised their price target on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Citigroup raised their price target on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. TD Cowen raised their price target on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Bank of America raised their price target on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.25.

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.