SG Americas Securities LLC Raises Stock Position in Fox Corporation $FOXA

SG Americas Securities LLC lifted its holdings in Fox Corporation (NASDAQ:FOXA) by 346.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 128,029 shares of the company’s stock after buying an additional 99,363 shares during the period. SG Americas Securities LLC’s holdings in FOX were worth $9,355,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. FWL Investment Management LLC bought a new position in shares of FOX in the 3rd quarter valued at about $26,000. CYBER HORNET ETFs LLC bought a new stake in FOX during the second quarter worth approximately $35,000. Rosenberg Matthew Hamilton increased its stake in FOX by 58.5% during the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after acquiring an additional 257 shares during the last quarter. Quantbot Technologies LP purchased a new stake in FOX during the third quarter valued at approximately $51,000. Finally, Geneos Wealth Management Inc. raised its position in FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after purchasing an additional 621 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $59.11 on Monday. The firm has a market capitalization of $25.15 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 7.28 and a beta of 0.55. The business has a 50 day simple moving average of $61.75 and a two-hundred day simple moving average of $64.37. Fox Corporation has a 1 year low of $46.42 and a 1 year high of $76.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.35. FOX had a return on equity of 18.14% and a net margin of 11.41%.The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts predict that Fox Corporation will post 4.38 EPS for the current year.

FOX Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 4th. This represents a yield of 83.0%. FOX’s dividend payout ratio (DPR) is presently 13.46%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America cut FOX from a “buy” rating to an “underperform” rating and set a $45.00 target price for the company. in a report on Wednesday, February 25th. Wells Fargo & Company decreased their price target on FOX from $75.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday. Morgan Stanley raised their price target on FOX from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. UBS Group set a $64.00 price objective on shares of FOX in a research note on Tuesday, February 24th. Finally, Evercore boosted their price objective on shares of FOX from $66.00 to $70.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.27.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 216,806 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $57.68, for a total value of $12,505,370.08. Following the transaction, the chief operating officer directly owned 362,206 shares in the company, valued at approximately $20,892,042.08. This represents a 37.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the transaction, the chief executive officer directly owned 152 shares in the company, valued at $8,846.40. This represents a 99.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,586,871 shares of company stock valued at $91,893,926. Corporate insiders own 19.68% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.