Atria Investments Inc Sells 2,099 Shares of Fox Co. (NASDAQ:FOXA)

Atria Investments Inc reduced its stake in Fox Co. (NASDAQ:FOXA) by 15.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,213 shares of the company’s stock after selling 2,099 shares during the period. Atria Investments Inc’s holdings in FOX were worth $475,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FOXA. Massmutual Trust Co. FSB ADV grew its position in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares in the last quarter. Friedenthal Financial bought a new stake in FOX in the 2nd quarter worth approximately $51,000. Duncker Streett & Co. Inc. purchased a new stake in shares of FOX during the 2nd quarter worth approximately $52,000. Covestor Ltd boosted its position in shares of FOX by 283.0% during the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock valued at $90,000 after acquiring an additional 2,128 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in FOX by 11.0% in the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock worth $103,000 after purchasing an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Down 0.1 %

Shares of NASDAQ FOXA opened at $45.70 on Thursday. The stock has a 50 day moving average price of $42.58 and a 200 day moving average price of $38.48. The firm has a market capitalization of $20.87 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.17 and a beta of 0.76. Fox Co. has a 52-week low of $28.28 and a 52-week high of $47.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts expect that Fox Co. will post 3.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FOXA shares. Morgan Stanley lifted their price objective on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Macquarie restated a “neutral” rating and set a $43.00 price objective on shares of FOX in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, UBS Group increased their price target on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.00.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John Nallen sold 182,481 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

FOX Profile

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.