Profund Advisors LLC Makes New $483,000 Investment in Fox Corporation $FOXA

Profund Advisors LLC acquired a new position in shares of Fox Corporation (NASDAQ:FOXA) in the third quarter, Holdings Channel.com reports. The fund acquired 7,703 shares of the company’s stock, valued at approximately $483,000.

Other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC purchased a new stake in FOX in the third quarter worth approximately $2,682,000. Choreo LLC grew its position in FOX by 13.3% during the third quarter. Choreo LLC now owns 11,709 shares of the company’s stock valued at $734,000 after acquiring an additional 1,370 shares during the last quarter. Interchange Capital Partners LLC bought a new position in FOX during the third quarter valued at approximately $230,000. Pinnacle Wealth Planning Services Inc. grew its position in FOX by 75.7% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,056 shares of the company’s stock valued at $66,000 after acquiring an additional 455 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in shares of FOX during the third quarter worth approximately $11,195,000. Institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FOXA. Raymond James Financial upgraded shares of FOX to a “strong-buy” rating in a report on Friday, October 16th. Sanford C. Bernstein increased their target price on shares of FOX from $73.00 to $74.00 and gave the company a “market perform” rating in a report on Tuesday. Needham & Company LLC assumed coverage on shares of FOX in a research report on Friday, October 16th. They issued a “buy” rating on the stock. Bank of America upgraded shares of FOX from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $54.00 to $85.00 in a research report on Friday, October 16th. Finally, Wells Fargo & Company raised shares of FOX from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $65.00 to $80.00 in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.16.

Insider Activity at FOX

In other news, CEO Lachlan Murdoch bought 149,934 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the purchase, the chief executive officer directly owned 1,401,713 shares in the company, valued at $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 20.89% of the stock is currently owned by insiders.

FOX Price Performance

Shares of FOX stock opened at $67.67 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.79 and a quick ratio of 2.99. The business’s 50 day simple moving average is $64.88 and its two-hundred day simple moving average is $62.20. The stock has a market capitalization of $28.40 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.15 and a beta of 0.63. Fox Corporation has a one year low of $48.34 and a one year high of $76.39.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 2nd. The company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.52. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.32 billion. FOX had a return on equity of 23.96% and a net margin of 11.30%. The business’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. Analysts forecast that Fox Corporation will post 5.98 EPS for the current year.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.