Marshall Wace LLP Buys 185,859 Shares of Fox Corporation $FOXA

Marshall Wace LLP boosted its stake in Fox Corporation (NASDAQ:FOXA) by 415.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 230,570 shares of the company’s stock after buying an additional 185,859 shares during the period. Marshall Wace LLP owned 0.05% of FOX worth $12,921,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Amalgamated Bank raised its position in shares of FOX by 0.9% in the 2nd quarter. Amalgamated Bank now owns 42,700 shares of the company’s stock worth $2,393,000 after acquiring an additional 360 shares in the last quarter. Hartford Investment Management Co. grew its stake in FOX by 2.9% in the second quarter. Hartford Investment Management Co. now owns 13,681 shares of the company’s stock worth $767,000 after purchasing an additional 388 shares during the period. Nissay Asset Management Corp Japan ADV grew its stake in FOX by 1.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 31,514 shares of the company’s stock worth $1,784,000 after purchasing an additional 491 shares during the period. Venturi Wealth Management LLC raised its holdings in FOX by 12.2% in the second quarter. Venturi Wealth Management LLC now owns 5,716 shares of the company’s stock worth $320,000 after purchasing an additional 620 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after buying an additional 621 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Trading Up 2.0%

Shares of NASDAQ FOXA opened at $71.74 on Thursday. The firm’s 50 day moving average price is $63.40 and its 200-day moving average price is $59.32. Fox Corporation has a 52-week low of $45.91 and a 52-week high of $71.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. The company has a market cap of $31.85 billion, a PE ratio of 16.12, a P/E/G ratio of 1.57 and a beta of 0.51.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the firm earned $1.45 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Cowen reaffirmed a “hold” rating on shares of FOX in a research report on Friday, October 31st. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Guggenheim raised their target price on shares of FOX from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Evercore ISI boosted their price target on FOX from $55.00 to $66.00 and gave the stock an “in-line” rating in a research report on Friday, October 31st. Finally, Fox Advisors set a $97.00 price objective on FOX in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, FOX has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Insiders Place Their Bets

In related news, Director Paul D. Ryan sold 17,767 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $64.36, for a total transaction of $1,143,484.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven Tomsic sold 138,397 shares of FOX stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $66.54, for a total value of $9,208,936.38. Following the completion of the sale, the chief financial officer owned 180,556 shares of the company’s stock, valued at $12,014,196.24. The trade was a 43.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 454,817 shares of company stock worth $29,490,590 in the last 90 days. 19.68% of the stock is currently owned by company insiders.

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.