Tabor Asset Management LP Takes $1.12 Million Position in Fox Co. (NASDAQ:FOXA)

Tabor Asset Management LP bought a new position in shares of Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 22,969 shares of the company’s stock, valued at approximately $1,116,000.

A number of other large investors also recently modified their holdings of FOXA. Siemens Fonds Invest GmbH acquired a new position in FOX during the fourth quarter worth $987,000. Sherbrooke Park Advisers LLC increased its position in shares of FOX by 33.2% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 20,852 shares of the company’s stock worth $1,013,000 after acquiring an additional 5,201 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of FOX by 10.7% in the 4th quarter. Rafferty Asset Management LLC now owns 19,201 shares of the company’s stock worth $933,000 after acquiring an additional 1,862 shares during the last quarter. Raiffeisen Bank International AG bought a new position in FOX in the 4th quarter valued at about $905,000. Finally, Redwood Investment Management LLC acquired a new position in FOX during the 4th quarter valued at about $1,422,000. 52.52% of the stock is currently owned by institutional investors.

FOX Price Performance

Shares of NASDAQ FOXA opened at $56.08 on Monday. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $51.34 and a two-hundred day simple moving average of $50.40. Fox Co. has a 1-year low of $32.51 and a 1-year high of $58.74. The firm has a market cap of $25.21 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.17. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. Analysts anticipate that Fox Co. will post 4.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

FOXA has been the subject of several analyst reports. Cowen reissued a “hold” rating on shares of FOX in a research note on Tuesday, May 13th. Morgan Stanley increased their price target on FOX from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 13th. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the company a “buy” rating in a research note on Tuesday, February 4th. Loop Capital upped their target price on shares of FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Finally, Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and raised their price target for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, FOX currently has a consensus rating of “Hold” and an average target price of $52.71.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.77% of the company’s stock.

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.