29,269 Shares in Fox Co. (NASDAQ:FOXA) Purchased by Redwood Investment Management LLC

Redwood Investment Management LLC bought a new position in shares of Fox Co. (NASDAQ:FOXA) in the 4th quarter, HoldingsChannel.com reports. The firm bought 29,269 shares of the company’s stock, valued at approximately $1,422,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew 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 buying an additional 368 shares in the last quarter. Asset Management One Co. Ltd. grew its position in FOX by 25.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after buying an additional 23,704 shares in the last quarter. Park Avenue Securities LLC grew its position in FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after buying an additional 3,787 shares in the last quarter. Brookstone Capital Management purchased a new position in shares of FOX in the 4th quarter worth about $492,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of FOX in the 4th quarter worth about $7,767,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at FOX

In other 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 value of $3,083,860.00. Following the completion of the transaction, the chairman now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group upped their price objective on FOX from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday. Loop Capital upped their price objective on FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley upped their price objective on FOX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.71.

FOX Trading Up 1.1%

FOXA opened at $56.08 on Friday. The business has a 50 day simple moving average of $51.34 and a two-hundred day simple moving average of $50.28. The firm has a market capitalization of $25.43 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a one year low of $32.50 and a one year high of $58.74.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. FOX’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 EPS. Analysts predict that Fox Co. will post 4.38 EPS for the current year.

About FOX

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.