Fox Corporation $FOX Stock Holdings Cut by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. reduced its position in shares of Fox Corporation (NASDAQ:FOX) by 13.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 222,911 shares of the company’s stock after selling 35,000 shares during the period. FOX comprises about 2.2% of GABELLI & Co INVESTMENT ADVISERS INC.’s investment portfolio, making the stock its 16th biggest holding. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in FOX were worth $14,474,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in FOX during the 3rd quarter valued at $26,000. Quent Capital LLC bought a new position in FOX during the 3rd quarter valued at $32,000. Brown Brothers Harriman & Co. boosted its stake in FOX by 336.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after purchasing an additional 475 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in FOX during the 3rd quarter valued at $74,000. Finally, Geneos Wealth Management Inc. boosted its stake in FOX by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after purchasing an additional 703 shares in the last quarter. 26.41% of the stock is owned by institutional investors.

More FOX News

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.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at FOX

In other news, CEO Lachlan K. Murdoch sold 637,752 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was 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 directly owned 152 shares of the company’s stock, valued at $8,846.40. This trade represents a 99.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Nallen sold 216,806 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $57.68, for a total value of $12,505,370.08. Following the sale, the chief operating officer directly owned 362,206 shares of the company’s stock, valued at approximately $20,892,042.08. This represents a 37.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,586,871 shares of company stock valued at $91,893,926. Corporate insiders own 23.06% of the company’s stock.

FOX Stock Performance

FOX opened at $57.87 on Monday. The firm has a market cap of $24.62 billion, a PE ratio of 15.27, a P/E/G ratio of 6.83 and a beta of 0.54. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $55.16 and a 200-day simple moving average of $58.49. Fox Corporation has a fifty-two week low of $48.42 and a fifty-two week high of $68.18.

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

FOX Company Profile

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.