Cubist Systematic Strategies LLC Acquires Shares of 414,353 Fox Co. (NASDAQ:FOXA)

Cubist Systematic Strategies LLC bought a new position in shares of Fox Co. (NASDAQ:FOXA) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 414,353 shares of the company’s stock, valued at approximately $20,129,000.

Several other hedge funds have also added to or reduced their stakes in the business. WealthTrak Capital Management LLC acquired a new stake in FOX during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its holdings in shares of FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after buying an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of FOX in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp grew its stake in shares of FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after acquiring an additional 368 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

FOX Price Performance

Shares of FOXA opened at $49.26 on Tuesday. The business has a 50-day simple moving average of $51.87 and a two-hundred day simple moving average of $49.72. Fox Co. has a 12-month low of $31.71 and a 12-month high of $58.74. The stock has a market cap of $22.34 billion, a PE ratio of 10.55, a PEG ratio of 1.27 and a beta of 0.51. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business earned $0.34 EPS. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. Analysts anticipate that Fox Co. will post 4.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FOXA has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of FOX from $63.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. UBS Group lowered their price objective on FOX from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Cfra Research upgraded FOX from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 7th. Loop Capital raised their price target on FOX from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Finally, Barclays dropped their price target on FOX from $50.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $50.65.

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.