Fox Co. (NASDAQ:FOXA) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP reduced its holdings in Fox Co. (NASDAQ:FOXA) by 16.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 545,655 shares of the company’s stock after selling 104,368 shares during the quarter. Bridgewater Associates LP owned 0.12% of FOX worth $23,098,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Transamerica Financial Advisors Inc. bought a new stake in shares of FOX during the third quarter valued at about $119,000. BNP Paribas Financial Markets increased its stake in FOX by 22.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 822,132 shares of the company’s stock valued at $34,801,000 after buying an additional 152,508 shares during the period. Quantbot Technologies LP raised its position in shares of FOX by 21.2% during the 3rd quarter. Quantbot Technologies LP now owns 239,675 shares of the company’s stock worth $10,145,000 after buying an additional 41,894 shares in the last quarter. FMR LLC lifted its stake in shares of FOX by 9.0% in the 3rd quarter. FMR LLC now owns 554,019 shares of the company’s stock worth $23,452,000 after acquiring an additional 45,531 shares during the period. Finally, Qsemble Capital Management LP acquired a new stake in shares of FOX in the third quarter valued at $403,000. Institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOXA opened at $46.71 on Thursday. The company has a quick ratio of 2.33, a current ratio of 2.59 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 $47.58. The company’s fifty day moving average is $43.24 and its 200-day moving average is $38.95. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. The company 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 was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. Equities analysts expect that Fox Co. will post 3.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FOXA shares. Macquarie reaffirmed a “neutral” rating and issued a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Cfra reiterated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Barclays increased their price objective on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, FOX has an average rating of “Hold” and a consensus target price of $44.00.

Insider Buying and Selling

In other news, COO John Nallen sold 182,481 shares of FOX stock in a transaction dated 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 transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was 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. In the last ninety days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is currently owned by insiders.

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.