Victory Capital Management Inc. Raises Position in Fox Co. (NASDAQ:FOX)

Victory Capital Management Inc. boosted its holdings in Fox Co. (NASDAQ:FOX) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,645 shares of the company’s stock after buying an additional 300 shares during the period. Victory Capital Management Inc.’s holdings in FOX were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of FOX by 6.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 385,822 shares of the company’s stock valued at $14,970,000 after acquiring an additional 24,909 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in FOX by 78.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 18,529 shares of the company’s stock valued at $719,000 after purchasing an additional 8,143 shares in the last quarter. Summit Global Investments purchased a new position in FOX in the 3rd quarter worth approximately $768,000. Intact Investment Management Inc. bought a new position in shares of FOX in the 3rd quarter worth $74,000. Finally, New York State Teachers Retirement System raised its position in shares of FOX by 7.8% during the 3rd quarter. New York State Teachers Retirement System now owns 174,824 shares of the company’s stock valued at $6,783,000 after buying an additional 12,656 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Trading Up 0.6 %

Shares of FOX opened at $44.37 on Monday. 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 Co. has a fifty-two week low of $25.82 and a fifty-two week high of $44.56. The firm has a 50 day moving average price of $39.70 and a 200-day moving average price of $35.94. The firm has a market cap of $20.27 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.69 and a beta of 0.81.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO John Nallen sold 182,481 shares of the company’s 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FOX shares. Barclays upgraded shares of FOX to a “hold” rating in a research report on Wednesday, October 9th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th.

FOX Company 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.