Fox Corporation $FOXA Shares Newly Purchased by ProShare Advisors LLC

ProShare Advisors LLC purchased a new position in Fox Corporation (NASDAQ:FOXA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,812 shares of the company’s stock, valued at approximately $2,682,000.

Other hedge funds have also recently made changes to their positions in the company. Squarepoint Ops LLC boosted its holdings in FOX by 12.4% in the second quarter. Squarepoint Ops LLC now owns 1,127,389 shares of the company’s stock worth $58,805,000 after purchasing an additional 124,143 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of FOX by 2.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 966,811 shares of the company’s stock valued at $50,429,000 after buying an additional 24,511 shares during the period. Junto Capital Management LP bought a new position in shares of FOX during the 2nd quarter valued at $34,773,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of FOX in the 3rd quarter worth $29,395,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of FOX in the 2nd quarter worth $21,519,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FOX

In related news, CEO Lachlan Murdoch acquired 149,934 shares of the stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the transaction, the chief executive officer directly owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 20.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings upgraded FOX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 26th. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Sanford C. Bernstein boosted their price target on FOX from $73.00 to $74.00 and gave the company a “market perform” rating in a research note on Tuesday. Oppenheimer lowered shares of FOX to a “market perform” rating in a research report on Friday, October 16th. Finally, Raymond James Financial upgraded shares of FOX to a “strong-buy” rating in a research note on Friday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.16.

FOX Stock Performance

FOX stock traded down $1.03 during trading on Friday, reaching $66.64. The company had a trading volume of 19,576,650 shares, compared to its average volume of 5,016,970. Fox Corporation has a 52 week low of $48.34 and a 52 week high of $76.39. The firm’s 50-day simple moving average is $64.86 and its 200 day simple moving average is $62.17. The firm has a market capitalization of $27.97 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63. The company has a current ratio of 3.79, a quick ratio of 2.99 and a debt-to-equity ratio of 0.53.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.52. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.32 billion. FOX had a return on equity of 23.96% and a net margin of 11.30%. FOX’s revenue for the quarter 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. Sell-side analysts forecast that Fox Corporation will post 5.97 earnings per share for the current fiscal year.

FOX Profile

Fox Corporation is a media company focused primarily on news, sports and entertainment for audiences in the United States. Its businesses include Fox News Media, Fox Sports and Fox Entertainment, which produce and distribute television programming, news coverage, live sports and entertainment content.

The company also operates the Fox broadcast network and local television stations, and offers streaming services including Tubi, an ad-supported streaming platform, and Fox Nation, a subscription service.