Synergy Asset Management LLC Buys 25,846 Shares of Fox Co. (NASDAQ:FOX)

Synergy Asset Management LLC raised its stake in Fox Co. (NASDAQ:FOX) by 73.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,166 shares of the company’s stock after acquiring an additional 25,846 shares during the quarter. Synergy Asset Management LLC’s holdings in FOX were worth $2,566,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in shares of FOX by 35.4% during the fourth quarter. Blue Trust Inc. now owns 7,499 shares of the company’s stock worth $343,000 after purchasing an additional 1,960 shares during the period. Exchange Traded Concepts LLC grew its holdings in FOX by 1,622.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 56,750 shares of the company’s stock valued at $2,596,000 after buying an additional 53,456 shares in the last quarter. SG Americas Securities LLC increased its position in FOX by 312.3% during the 4th quarter. SG Americas Securities LLC now owns 34,065 shares of the company’s stock worth $1,558,000 after buying an additional 25,802 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of FOX during the fourth quarter worth $48,606,000. Finally, Avanza Fonder AB bought a new stake in shares of FOX in the fourth quarter valued at about $407,000. 26.41% of the stock is owned by institutional investors.

Insider Activity 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 shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 1,053,505 shares of company stock valued at $47,705,970 over the last three months. 23.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on FOX. Barclays upgraded shares of FOX to a “hold” rating in a research note on Wednesday, October 9th. Moffett Nathanson downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st.

FOX Stock Performance

FOX opened at $47.85 on Thursday. The firm has a market cap of $21.86 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.66 and a beta of 0.81. The business’s fifty day moving average is $45.58 and its 200-day moving average is $40.61. Fox Co. has a 52-week low of $25.82 and a 52-week high of $48.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOX) last released its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.10 by $0.35. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.37 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. During the same period last year, the firm earned $1.09 EPS. Sell-side analysts expect that Fox Co. will post 3.91 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.