BI Asset Management Fondsmaeglerselskab A S Makes New Investment in Fox Corporation $FOX

BI Asset Management Fondsmaeglerselskab A S purchased a new position in Fox Corporation (NASDAQ:FOX) during the first quarter, Holdings Channel reports. The fund purchased 175,677 shares of the company’s stock, valued at approximately $9,328,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Marshall Wace LLP lifted its holdings in shares of FOX by 792.4% during the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock worth $182,448,000 after acquiring an additional 2,827,768 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of FOX by 2,459.6% in the 4th quarter. SG Americas Securities LLC now owns 413,037 shares of the company’s stock worth $26,818,000 after purchasing an additional 396,900 shares in the last quarter. Pinebridge Investments LLC purchased a new position in shares of FOX in the 4th quarter worth about $13,758,000. Gabelli Funds LLC boosted its holdings in shares of FOX by 26.4% in the 3rd quarter. Gabelli Funds LLC now owns 538,400 shares of the company’s stock worth $30,845,000 after purchasing an additional 112,600 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of FOX by 427.0% during the 1st quarter. Jane Street Group LLC now owns 97,261 shares of the company’s stock valued at $5,127,000 after purchasing an additional 78,804 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Stock Performance

NASDAQ FOX opened at $46.95 on Monday. The company has a 50-day simple moving average of $57.00 and a two-hundred day simple moving average of $58.19. Fox Corporation has a 12-month low of $45.94 and a 12-month high of $68.18. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.84 and a beta of 0.54. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.78 billion. On average, equities analysts forecast that Fox Corporation will post 4.76 EPS for the current year.

Key Stories Impacting FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox stock may benefit if its reported Roku acquisition/deal delivers long-term strategic value and expands distribution opportunities for FOX’s content. FOX Stock Is Attractive With Roku Deal Likely to Create Long-Term Value
• Neutral Sentiment: Analysts remain somewhat bullish on Fox Corporation, even as recent commentary says the stock has lagged the S&P 500 and the leisure/entertainment group over the past year. Is Fox Corporation Stock Underperforming the S&P 500?
• Neutral Sentiment: Fox News continued to publish high-volume coverage of major political and international developments, including Iran negotiations, Israel-Hezbollah tensions, and U.S. politics, which may help sustain traffic but does not clearly change FOX’s fundamentals. Trump administration unveils sweeping terms of proposed Iran agreement

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of FOX in a report on Friday, May 22nd. Bank of America reaffirmed an “underperform” rating and issued a $45.00 target price (down from $80.00) on shares of FOX in a research note on Wednesday, February 25th. Finally, Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.