Algert Global LLC Buys 18,779 Shares of Fox Co. (NASDAQ:FOX)

Algert Global LLC grew its stake in Fox Co. (NASDAQ:FOX) by 28.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,796 shares of the company’s stock after acquiring an additional 18,779 shares during the quarter. Algert Global LLC’s holdings in FOX were worth $3,879,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of FOX in the fourth quarter worth about $138,822,000. Contrarius Group Holdings Ltd bought a new stake in FOX during the 4th quarter worth approximately $57,766,000. Assenagon Asset Management S.A. raised its holdings in FOX by 58.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock worth $135,890,000 after buying an additional 1,095,073 shares during the period. Wedge Capital Management L L P NC bought a new position in FOX in the fourth quarter valued at approximately $48,606,000. Finally, Independent Franchise Partners LLP boosted its holdings in shares of FOX by 15.4% in the fourth quarter. Independent Franchise Partners LLP now owns 5,706,386 shares of the company’s stock valued at $261,010,000 after buying an additional 759,874 shares during the period. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Moffett Nathanson cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st.

FOX Stock Up 0.3 %

FOX stock opened at $45.98 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The stock has a market capitalization of $20.85 billion, a P/E ratio of 9.85, a P/E/G ratio of 1.55 and a beta of 0.57. Fox Co. has a fifty-two week low of $29.27 and a fifty-two week high of $55.00. The business has a 50-day moving average of $48.02 and a 200-day moving average of $46.59.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.35. FOX had a net margin of 14.39% and a return on equity of 18.50%. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, sell-side analysts anticipate that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX 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.