Assenagon Asset Management S.A. Sells 5,985 Shares of Fox Co. (NASDAQ:FOXA)

Assenagon Asset Management S.A. decreased its position in Fox Co. (NASDAQ:FOXA) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,774 shares of the company’s stock after selling 5,985 shares during the period. Assenagon Asset Management S.A.’s holdings in FOX were worth $2,952,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FOXA. Pacer Advisors Inc. lifted its stake in FOX by 44,205.3% during the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after acquiring an additional 7,897,710 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in FOX by 228.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after acquiring an additional 964,737 shares during the period. AXA S.A. lifted its stake in FOX by 294.2% during the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock valued at $30,537,000 after acquiring an additional 663,089 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in FOX by 25.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after acquiring an additional 492,467 shares during the period. Finally, Glenmede Trust Co. NA lifted its stake in FOX by 244.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 389,470 shares of the company’s stock valued at $16,486,000 after acquiring an additional 276,259 shares during the period. Institutional investors own 52.52% of the company’s stock.

FOX Trading Down 0.2 %

FOX stock opened at $47.90 on Wednesday. The firm has a 50 day moving average of $47.76 and a 200 day moving average of $42.84. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.19 and a beta of 0.75. Fox Co. has a 12-month low of $28.28 and a 12-month high of $50.63. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. As a group, research analysts predict that Fox Co. will post 4.09 earnings per share for the current year.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now directly 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred on 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. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 469,352 shares of company stock valued at $20,822,072 in the last three months. 21.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Guggenheim upped their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Macquarie restated a “neutral” rating and set a $43.00 target price on shares of FOX in a research note on Tuesday, November 5th. Morgan Stanley upped their target price on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their price objective on shares of FOX from $49.00 to $59.00 and gave the stock an “underweight” rating in a research note on Friday, January 10th. Finally, The Goldman Sachs Group increased their price objective on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.25.

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.