Bayesian Capital Management LP Acquires New Holdings in Fox Co. (NASDAQ:FOX)

Bayesian Capital Management LP purchased a new position in shares of Fox Co. (NASDAQ:FOX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,427 shares of the company’s stock, valued at approximately $728,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of FOX in the fourth quarter worth approximately $70,598,000. Dimensional Fund Advisors LP grew its position in FOX by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,070,204 shares of the company’s stock worth $57,243,000 after buying an additional 20,306 shares in the last quarter. National Bank of Canada FI grew its position in FOX by 22.0% during the first quarter. National Bank of Canada FI now owns 1,119,528 shares of the company’s stock worth $34,638,000 after buying an additional 201,783 shares in the last quarter. Bank of Nova Scotia grew its position in FOX by 315.5% during the fourth quarter. Bank of Nova Scotia now owns 1,052,781 shares of the company’s stock worth $29,108,000 after buying an additional 799,383 shares in the last quarter. Finally, Brandes Investment Partners LP grew its position in FOX by 16.9% during the fourth quarter. Brandes Investment Partners LP now owns 1,015,605 shares of the company’s stock worth $28,081,000 after buying an additional 146,958 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Seaport Res Ptn raised FOX from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 9th.

Insider Activity

In related news, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the transaction, the chief financial officer now owns 110,568 shares in the company, valued at approximately $3,788,059.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FOX news, Chairman Keith Rupert Murdoch sold 13,176 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the completion of the sale, the chairman now owns 1,408,862 shares in the company, valued at approximately $43,519,747.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the sale, the chief financial officer now owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. 19.21% of the stock is currently owned by corporate insiders.

FOX Price Performance

NASDAQ FOX traded up $0.64 during trading on Tuesday, reaching $35.83. 401,749 shares of the company traded hands, compared to its average volume of 1,157,628. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.94 and a current ratio of 3.24. The stock’s 50 day moving average price is $32.37 and its two-hundred day moving average price is $29.83. The company has a market cap of $16.72 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 5.66 and a beta of 0.82. Fox Co. has a 1-year low of $25.82 and a 1-year high of $35.89.

FOX (NASDAQ:FOX) last posted its earnings results on Wednesday, May 8th. The company reported $1.09 earnings per share (EPS) for the quarter. FOX had a net margin of 11.19% and a return on equity of 15.90%. The company had revenue of $3.45 billion during the quarter. As a group, analysts anticipate that Fox Co. will post 3.32 EPS for the current year.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.