Anchor Investment Management LLC Sells 1,805 Shares of Fox Co. (NASDAQ:FOXA)

Anchor Investment Management LLC lessened its stake in Fox Co. (NASDAQ:FOXA) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,318 shares of the company’s stock after selling 1,805 shares during the period. Anchor Investment Management LLC’s holdings in FOX were worth $564,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Invst LLC bought a new position in shares of FOX during the 3rd quarter valued at about $740,000. Toronto Dominion Bank boosted its stake in FOX by 11.8% in the third quarter. Toronto Dominion Bank now owns 76,077 shares of the company’s stock worth $3,220,000 after buying an additional 8,040 shares in the last quarter. Prestige Wealth Management Group LLC grew its position in FOX by 14.7% during the third quarter. Prestige Wealth Management Group LLC now owns 4,445 shares of the company’s stock valued at $188,000 after acquiring an additional 569 shares during the last quarter. M&T Bank Corp raised its stake in shares of FOX by 7.4% during the third quarter. M&T Bank Corp now owns 14,645 shares of the company’s stock worth $620,000 after acquiring an additional 1,010 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of FOX by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,082 shares of the company’s stock worth $2,924,000 after acquiring an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOXA opened at $47.34 on Friday. Fox Co. has a 12 month low of $28.28 and a 12 month high of $47.58. The business’s fifty day simple moving average is $44.21 and its two-hundred day simple moving average is $39.90. 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 market cap of $21.62 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.18 and a beta of 0.77.

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

Analysts Set New Price Targets

A number of brokerages recently commented on FOXA. TD Cowen lifted their target price on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their target price on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. UBS Group lifted their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, StockNews.com upgraded shares of FOX from a “hold” rating to a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, FOX presently has a consensus rating of “Hold” and a consensus price target of $44.00.

Insider Transactions at FOX

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 transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’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. Insiders sold 469,352 shares of company stock worth $20,822,072 over the last three months. 21.77% of the stock is currently 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.