Citigroup Inc. Trims Stake in Fox Co. (NASDAQ:FOX)

Citigroup Inc. trimmed its position in Fox Co. (NASDAQ:FOX) by 44.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 657,482 shares of the company’s stock after selling 524,112 shares during the quarter. Citigroup Inc.’s holdings in FOX were worth $25,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in FOX by 0.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 176,053 shares of the company’s stock valued at $5,040,000 after buying an additional 1,118 shares during the period. Bayesian Capital Management LP bought a new position in shares of FOX in the 1st quarter worth $728,000. Janus Henderson Group PLC lifted its stake in shares of FOX by 7.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,535,668 shares of the company’s stock worth $43,953,000 after purchasing an additional 111,687 shares during the last quarter. iA Global Asset Management Inc. boosted its position in FOX by 9.5% during the first quarter. iA Global Asset Management Inc. now owns 8,386 shares of the company’s stock valued at $240,000 after purchasing an additional 731 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in FOX in the first quarter valued at about $1,711,000. Institutional investors own 26.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FOX shares. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Barclays upgraded shares of FOX to a “hold” rating in a research note on Wednesday, October 9th.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John Nallen sold 182,481 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is currently owned by insiders.

FOX Trading Down 1.5 %

Shares of NASDAQ:FOX opened at $43.71 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The firm has a market capitalization of $19.96 billion, a P/E ratio of 10.69, a P/E/G ratio of 1.70 and a beta of 0.81. The business’s 50-day moving average is $39.84 and its 200 day moving average is $36.03. Fox Co. has a 1 year low of $25.82 and a 1 year high of $44.66.

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.