Andra AP fonden Grows Stock Position in Fox Corporation $FOXA

Andra AP fonden lifted its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 208.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 247,000 shares of the company’s stock after acquiring an additional 166,822 shares during the period. Andra AP fonden’s holdings in FOX were worth $14,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FOXA. FWL Investment Management LLC acquired a new position in shares of FOX in the 3rd quarter valued at $26,000. Elyxium Wealth LLC acquired a new stake in FOX during the 4th quarter worth about $27,000. CYBER HORNET ETFs LLC purchased a new stake in FOX during the 2nd quarter valued at about $35,000. Quantbot Technologies LP purchased a new stake in FOX during the 3rd quarter valued at about $51,000. Finally, Private Trust Co. NA increased its holdings in shares of FOX by 35.6% in the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock valued at $52,000 after purchasing an additional 187 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

NASDAQ:FOXA opened at $57.57 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. The firm has a market cap of $24.19 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.64 and a beta of 0.54. The company has a 50 day moving average price of $59.17 and a 200-day moving average price of $62.03. Fox Corporation has a 1-year low of $48.34 and a 1-year high of $76.39.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. Equities research analysts forecast that Fox Corporation will post 4.94 EPS for the current year.

Analyst Ratings Changes

FOXA has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on FOX from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX and gave the company a “buy” rating in a research note on Friday, July 10th. Barclays dropped their price objective on shares of FOX from $67.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, June 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of FOX in a research note on Friday, May 22nd. Finally, Seaport Research Partners reissued a “buy” rating and set a $61.00 target price on shares of FOX in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.56.

About FOX

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.