Ethic Inc. Purchases 36,470 Shares of Fox Co. (NASDAQ:FOX)

Ethic Inc. grew its stake in shares of Fox Co. (NASDAQ:FOX) by 122.5% in the fourth quarter, Holdings Channel reports. The fund owned 66,235 shares of the company’s stock after acquiring an additional 36,470 shares during the quarter. Ethic Inc.’s holdings in FOX were worth $3,030,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of FOX. Norges Bank bought a new position in FOX in the 4th quarter worth approximately $138,822,000. Contrarius Group Holdings Ltd bought a new position in FOX in the 4th quarter worth approximately $57,766,000. Assenagon Asset Management S.A. boosted its holdings in FOX by 58.4% in 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 4th quarter worth approximately $48,606,000. Finally, Independent Franchise Partners LLP boosted its holdings in FOX by 15.4% in the 4th quarter. Independent Franchise Partners LLP now owns 5,706,386 shares of the company’s stock worth $261,010,000 after buying an additional 759,874 shares during the period. 26.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 23.06% of the company’s stock.

FOX Stock Performance

NASDAQ FOX opened at $46.72 on Monday. Fox Co. has a 1 year low of $30.10 and a 1 year high of $55.00. 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 $21.18 billion, a PE ratio of 10.00, a P/E/G ratio of 1.55 and a beta of 0.56. The company’s 50 day simple moving average is $47.64 and its two-hundred day simple moving average is $46.82.

Wall Street Analysts Forecast Growth

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

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.