SG Americas Securities LLC Sells 257,927 Shares of Fox Corporation $FOX

SG Americas Securities LLC reduced its stake in shares of Fox Corporation (NASDAQ:FOX) by 62.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,110 shares of the company’s stock after selling 257,927 shares during the quarter. SG Americas Securities LLC’s holdings in FOX were worth $8,236,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its holdings in FOX by 792.4% during the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock valued at $182,448,000 after buying an additional 2,827,768 shares in the last quarter. Bank of New York Mellon Corp grew its stake in FOX by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 666,815 shares of the company’s stock worth $43,296,000 after acquiring an additional 10,165 shares in the last quarter. Gabelli Funds LLC increased its position in shares of FOX by 5.2% during the fourth quarter. Gabelli Funds LLC now owns 566,600 shares of the company’s stock worth $36,789,000 after acquiring an additional 28,200 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of FOX by 2.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 369,923 shares of the company’s stock valued at $24,019,000 after acquiring an additional 9,808 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in shares of FOX by 4.8% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 257,911 shares of the company’s stock valued at $14,776,000 after purchasing an additional 11,900 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX News Roundup

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Zacks says FOX has fallen sharply over the past four weeks and now looks technically oversold, which can signal selling exhaustion and a possible near-term trend reversal. The piece also notes that Wall Street analysts have recently revised earnings estimates higher, another potential tailwind for the stock. Article Title
• Positive Sentiment: Recent Fox News coverage continues to generate traffic across politics, world news, sports, and lifestyle segments, which may help engagement across FOX’s media platforms. Examples include coverage of Iran’s attack on a cargo ship in the Strait of Hormuz and a WNBA scoring-record story. Article Title
• Neutral Sentiment: Fox News published several high-volume but largely non-material stories, including political commentary and human-interest segments such as “Gangster Granny” and King Charles in a heat wave. These may support audience engagement, but they do not clearly change the company’s fundamentals. Article Title
• Neutral Sentiment: Fox News also ran general breaking-news items on crime and international events, which add to site traffic but are unlikely to have a direct, immediate impact on FOX stock. Article Title
• Negative Sentiment: The stock has been weak recently and remains far below its 50-day and 200-day moving averages, suggesting broader momentum is still negative despite today’s rebound.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Weiss Ratings upgraded FOX from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

FOX Trading Up 3.4%

NASDAQ FOX opened at $45.91 on Friday. Fox Corporation has a 52 week low of $44.08 and a 52 week high of $68.18. The company has a 50 day moving average price of $55.89 and a 200 day moving average price of $57.68. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. The firm has a market cap of $19.29 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.79 and a beta of 0.54.

FOX (NASDAQ:FOX) last announced its earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.78 billion. As a group, sell-side analysts forecast that Fox Corporation will post 4.78 EPS for the current fiscal year.

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.