Profund Advisors LLC Makes New $483,000 Investment in Fox Corporation $FOXA

Profund Advisors LLC bought a new stake in Fox Corporation (NASDAQ:FOXA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,703 shares of the company’s stock, valued at approximately $483,000.

Several other hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB bought a new position in shares of FOX during the 3rd quarter worth $44,000. PFS Partners LLC bought a new stake in FOX in the 3rd quarter valued at about $44,000. Elevation Wealth Partners LLC raised its stake in FOX by 811.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 911 shares of the company’s stock valued at $57,000 after acquiring an additional 811 shares during the period. Pinnacle Wealth Planning Services Inc. raised its stake in FOX by 75.7% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,056 shares of the company’s stock valued at $66,000 after acquiring an additional 455 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in FOX by 2,503.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company’s stock valued at $80,000 after purchasing an additional 1,477 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Trading Down 2.8%

Shares of FOXA stock opened at $67.67 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.99 and a current ratio of 3.79. Fox Corporation has a 52-week low of $48.34 and a 52-week high of $76.39. The company has a market capitalization of $28.40 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.15 and a beta of 0.63. The business’s fifty day moving average is $64.88 and its 200 day moving average is $62.20.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 2nd. The company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.02 by $0.52. FOX had a return on equity of 23.96% and a net margin of 11.30%. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the previous year, the business earned $1.51 earnings per share. The firm’s revenue was up 22.3% on a year-over-year basis. On average, equities research analysts anticipate that Fox Corporation will post 5.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on FOXA. Guggenheim reiterated a “buy” rating and set a $85.00 target price on shares of FOX in a research report on Wednesday, September 23rd. KeyCorp lowered shares of FOX to a “sector weight” rating in a research report on Friday, October 16th. Moffett Nathanson boosted their price target on shares of FOX from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. upped their price target on shares of FOX from $82.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Citigroup initiated coverage on shares of FOX in a report on Monday, September 14th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.16.

Insider Buying and Selling at FOX

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the acquisition, the chief executive officer directly owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 20.89% of the stock is currently owned by insiders.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.