Fox Corporation $FOX Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its stake in Fox Corporation (NASDAQ:FOX) by 67.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,049 shares of the company’s stock after selling 44,212 shares during the period. ProShare Advisors LLC’s holdings in FOX were worth $1,185,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of FOX by 42.3% in the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock valued at $40,000 after purchasing an additional 251 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in FOX in the second quarter valued at about $70,000. Glenmede Trust Co. NA raised its stake in FOX by 143.9% during the first quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company’s stock valued at $143,000 after buying an additional 1,591 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in FOX by 27.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company’s stock valued at $151,000 after buying an additional 613 shares in the last quarter. Finally, CX Institutional raised its stake in FOX by 54.4% during the third quarter. CX Institutional now owns 2,898 shares of the company’s stock valued at $163,000 after buying an additional 1,021 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

FOX Stock Performance

NASDAQ FOX traded down $0.49 during trading hours on Friday, hitting $59.50. The company had a trading volume of 1,740,815 shares, compared to its average volume of 756,431. The company has a quick ratio of 2.99, a current ratio of 3.79 and a debt-to-equity ratio of 0.53. The firm has a market cap of $24.97 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 1.39 and a beta of 0.66. Fox Corporation has a fifty-two week low of $44.08 and a fifty-two week high of $68.18. The business has a fifty day simple moving average of $57.92 and a 200-day simple moving average of $55.84.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.48. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.32 billion. FOX had a net margin of 11.30% and a return on equity of 23.96%. Equities analysts predict that Fox Corporation will post 6.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FOX. Citizens Jmp upgraded FOX to a “strong-buy” rating in a research report on Monday, September 14th. Guggenheim restated a “buy” rating on shares of FOX in a research note on Tuesday, August 25th. Fox Advisors reaffirmed a “market outperform” rating on shares of FOX in a report on Tuesday, October 20th. Rothschild & Co Redburn set a $71.00 target price on shares of FOX in a research note on Friday, July 10th. Finally, Royal Bank Of Canada set a $95.00 price target on shares of FOX in a report on Tuesday, October 20th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $79.50.

Insider Transactions at FOX

In other news, CEO Lachlan Murdoch bought 149,934 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was purchased at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the transaction, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This trade represents a 11.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 23.06% of the stock is owned by insiders.

FOX Company Profile

Fox Corporation is a U.S. media company that produces and distributes news, sports and entertainment programming. Its operations include the FOX broadcast network, Fox News Media, Fox Sports, FOX Entertainment and Fox Television Stations. The company also owns Tubi, an ad-supported streaming service.

Fox Corporation was formed in 2019 after The Walt Disney Company acquired much of 21st Century Fox. The company’s programming and services are primarily aimed at audiences in the United States, with content also distributed to viewers in other markets.

Lachlan Murdoch serves as Fox Corporation’s executive chair and chief executive officer.