Advisors Asset Management Inc. Has $482,000 Position in Fox Co. (NASDAQ:FOXA)

Advisors Asset Management Inc. reduced its stake in Fox Co. (NASDAQ:FOXA) by 27.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,394 shares of the company’s stock after selling 4,237 shares during the quarter. Advisors Asset Management Inc.’s holdings in FOX were worth $482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its holdings in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the last quarter. Quest Partners LLC acquired a new stake in FOX in the 3rd quarter worth approximately $51,000. Friedenthal Financial acquired a new stake in FOX in the 2nd quarter worth approximately $51,000. Duncker Streett & Co. Inc. acquired a new position in shares of FOX during the second quarter worth approximately $52,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of FOX during the third quarter worth approximately $141,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FOXA. UBS Group upped their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price target on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley upped their price target on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Rosenblatt Securities upped their price target on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.00.

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 value of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly 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 available through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by corporate insiders.

FOX Stock Performance

FOX stock opened at $46.71 on Thursday. 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 stock has a fifty day moving average price of $43.24 and a two-hundred day moving average price of $38.95. Fox Co. has a 52-week low of $28.28 and a 52-week high of $47.58. The firm has a market capitalization of $21.33 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.18 and a beta of 0.76.

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

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.