Fox Corporation $FOX Stock Position Lessened by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL decreased its holdings in Fox Corporation (NASDAQ:FOX) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 532,017 shares of the company’s stock after selling 52,668 shares during the quarter. Gamco Investors INC. ET AL’s holdings in FOX were worth $34,544,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Gabelli Funds LLC grew its stake in shares of FOX by 5.2% in the fourth quarter. Gabelli Funds LLC now owns 566,600 shares of the company’s stock worth $36,789,000 after purchasing an additional 28,200 shares in the last quarter. Canada Post Corp Registered Pension Plan boosted its stake in FOX by 3.3% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 24,510 shares of the company’s stock valued at $1,591,000 after buying an additional 790 shares in the last quarter. Hartford Investment Management Co. boosted its stake in FOX by 13.7% during the fourth quarter. Hartford Investment Management Co. now owns 8,661 shares of the company’s stock valued at $562,000 after buying an additional 1,045 shares in the last quarter. NBC Securities Inc. bought a new position in FOX during the fourth quarter valued at about $225,000. Finally, Farther Finance Advisors LLC boosted its stake in FOX by 92.2% during the fourth quarter. Farther Finance Advisors LLC now owns 10,073 shares of the company’s stock valued at $654,000 after buying an additional 4,832 shares in the last quarter. Institutional investors own 26.41% of the company’s stock.

Insider Buying and Selling at FOX

In other news, CEO Lachlan K. Murdoch sold 637,752 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the sale, the chief executive officer directly owned 152 shares of the company’s stock, valued at $8,846.40. This represents a 99.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Nallen sold 216,806 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $57.68, for a total value of $12,505,370.08. Following the sale, the chief operating officer directly owned 362,206 shares of the company’s stock, valued at approximately $20,892,042.08. This represents a 37.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,586,871 shares of company stock valued at $91,893,926. 23.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Bank of America reaffirmed an “underperform” rating and set a $45.00 target price (down from $80.00) on shares of FOX in a research note on Wednesday, February 25th. Wells Fargo & Company cut FOX from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Finally, Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, FOX presently has an average rating of “Moderate Buy” and an average target price of $75.00.

FOX Stock Performance

Shares of FOX stock opened at $57.87 on Monday. The stock has a 50-day simple moving average of $55.16 and a 200 day simple moving average of $58.49. Fox Corporation has a fifty-two week low of $48.42 and a fifty-two week high of $68.18. The stock has a market capitalization of $24.62 billion, a P/E ratio of 15.27, a P/E/G ratio of 6.83 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 announced its earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating 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 business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.78 billion. On average, sell-side analysts expect that Fox Corporation will post 4.76 earnings per share for the current fiscal year.

Key FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: FOX was upgraded by Zacks Research from “hold” to “strong-buy,” which can support sentiment by signaling improved analyst confidence in the stock’s outlook.
• Neutral Sentiment: Fox News content highlighted a range of political and world-news topics, including the Trump-Xi summit, Iran, immigration, and a reported Ebola outbreak. These stories may help drive audience engagement, but they do not appear to be direct earnings or operational catalysts for Fox Corporation.
• Neutral Sentiment: Several Fox News video segments focused on commentary and interviews rather than company-specific business updates, so their immediate impact on FOX shares is likely limited.

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.