Gabelli Funds LLC Increases Stock Position in Fox Corporation $FOX

Gabelli Funds LLC increased its position in shares of Fox Corporation (NASDAQ:FOX) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 566,600 shares of the company’s stock after buying an additional 28,200 shares during the period. Gabelli Funds LLC’s holdings in FOX were worth $36,789,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in FOX. AQR Capital Management LLC boosted its holdings in FOX by 65.6% during the first quarter. AQR Capital Management LLC now owns 26,715 shares of the company’s stock worth $1,408,000 after buying an additional 10,579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in FOX by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the company’s stock worth $656,000 after buying an additional 586 shares in the last quarter. NewEdge Advisors LLC acquired a new position in FOX during the first quarter worth $224,000. Woodline Partners LP raised its position in FOX by 40.7% during the first quarter. Woodline Partners LP now owns 11,145 shares of the company’s stock worth $587,000 after acquiring an additional 3,222 shares during the period. Finally, Jane Street Group LLC raised its position in FOX by 427.0% during the first quarter. Jane Street Group LLC now owns 97,261 shares of the company’s stock worth $5,127,000 after acquiring an additional 78,804 shares during the period. 26.41% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: FOX was upgraded by Zacks Research from “hold” to “strong-buy,” which can support sentiment by signaling improved analyst confidence in the stock’s outlook.
• Neutral Sentiment: Fox News content highlighted a range of political and world-news topics, including the Trump-Xi summit, Iran, immigration, and a reported Ebola outbreak. These stories may help drive audience engagement, but they do not appear to be direct earnings or operational catalysts for Fox Corporation.
• Neutral Sentiment: Several Fox News video segments focused on commentary and interviews rather than company-specific business updates, so their immediate impact on FOX shares is likely limited.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FOX shares. Wells Fargo & Company cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, Bank of America restated an “underperform” rating and set a $45.00 price objective (down from $80.00) on shares of FOX in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, FOX currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

FOX Stock Performance

NASDAQ:FOX opened at $57.87 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. The company has a fifty day moving average of $55.16 and a two-hundred day moving average of $58.49. The stock has a market capitalization of $24.62 billion, a PE ratio of 15.27, a P/E/G ratio of 6.83 and a beta of 0.54. Fox Corporation has a fifty-two week low of $48.42 and a fifty-two week high of $68.18.

FOX (NASDAQ:FOX) last issued its earnings results on Monday, May 11th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.30. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.78 billion. FOX had a net margin of 10.56% and a return on equity of 18.90%. As a group, research analysts forecast that Fox Corporation will post 4.76 earnings per share for the current fiscal year.

Insider Transactions at FOX

In other news, COO John Nallen sold 216,806 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $57.68, for a total value of $12,505,370.08. Following the completion of the sale, the chief operating officer directly owned 362,206 shares in the company, valued at $20,892,042.08. This represents a 37.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the sale, the chief executive officer owned 152 shares of the company’s stock, valued at $8,846.40. This trade represents a 99.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,586,871 shares of company stock valued at $91,893,926 over the last quarter. Company insiders own 23.06% of the company’s stock.

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.