Millennium Management LLC Sells 258,944 Shares of Fox Co. (NASDAQ:FOX)

Millennium Management LLC lessened its position in shares of Fox Co. (NASDAQ:FOX) by 27.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 678,233 shares of the company’s stock after selling 258,944 shares during the period. Millennium Management LLC owned approximately 0.15% of FOX worth $31,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FOX. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX during the 4th quarter worth approximately $29,000. CIBC Private Wealth Group LLC grew its stake in FOX by 135.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company’s stock worth $42,000 after buying an additional 522 shares in the last quarter. Principal Securities Inc. grew its stake in FOX by 51.5% in the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after buying an additional 362 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in FOX by 82.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company’s stock worth $61,000 after buying an additional 608 shares in the last quarter. Finally, Westpac Banking Corp grew its stake in FOX by 84.0% in the 4th quarter. Westpac Banking Corp now owns 1,625 shares of the company’s stock worth $74,000 after buying an additional 742 shares in the last quarter. Institutional investors own 26.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

FOX Price Performance

FOX stock opened at $51.85 on Monday. Fox Co. has a one year low of $30.10 and a one year high of $55.00. The stock has a market cap of $23.31 billion, a PE ratio of 11.10, a P/E/G ratio of 1.55 and a beta of 0.56. The firm has a 50 day simple moving average of $47.61 and a two-hundred day simple moving average of $47.24. 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 (NASDAQ:FOX) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.14. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.19 billion. On average, analysts predict that Fox Co. will post 4.25 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 23.06% of the stock is owned by corporate insiders.

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.