Worldquant Millennium Advisors LLC Boosts Stake in Fox Co. (NASDAQ:FOXA)

Worldquant Millennium Advisors LLC raised its position in Fox Co. (NASDAQ:FOXA) by 220.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,631 shares of the company’s stock after purchasing an additional 74,095 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in FOX were worth $4,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FOXA. Entropy Technologies LP bought a new position in FOX in the 3rd quarter worth about $546,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of FOX during the third quarter valued at approximately $2,867,000. Edgestream Partners L.P. boosted its stake in shares of FOX by 343.1% during the second quarter. Edgestream Partners L.P. now owns 203,956 shares of the company’s stock valued at $7,010,000 after purchasing an additional 157,927 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of FOX by 9.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 712,593 shares of the company’s stock valued at $24,492,000 after purchasing an additional 62,920 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of FOX by 21.2% during the third quarter. Quantbot Technologies LP now owns 239,675 shares of the company’s stock valued at $10,145,000 after purchasing an additional 41,894 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FOXA has been the topic of a number of recent research reports. Barclays increased their price objective on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of FOX from a “hold” rating to a “buy” rating in a research note on Friday. TD Cowen raised their target price on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Finally, Evercore ISI upgraded shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.00.

FOX Trading Up 0.8 %

NASDAQ FOXA opened at $47.00 on Friday. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $43.96 and a two-hundred day simple moving average of $39.63. Fox Co. has a 12-month low of $28.28 and a 12-month high of $47.58. The stock has a market cap of $21.47 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.19 and a beta of 0.77.

FOX (NASDAQ:FOXA) last issued its earnings results 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 net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the company posted $1.09 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, analysts forecast that Fox Co. will post 3.94 earnings per share for the current year.

Insider Activity at FOX

In related news, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction 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 sale, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by company insiders.

FOX Company 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.