Verition Fund Management LLC Trims Stock Position in Fox Co. (NASDAQ:FOXA)

Verition Fund Management LLC decreased its stake in Fox Co. (NASDAQ:FOXA) by 79.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,068 shares of the company’s stock after selling 43,411 shares during the quarter. Verition Fund Management LLC’s holdings in FOX were worth $469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of FOX by 18.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,869 shares of the company’s stock valued at $2,831,000 after buying an additional 10,261 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of FOX by 72.5% during the third quarter. CreativeOne Wealth LLC now owns 20,914 shares of the company’s stock worth $885,000 after purchasing an additional 8,788 shares in the last quarter. Glenmede Trust Co. NA raised its stake in FOX by 244.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 389,470 shares of the company’s stock valued at $16,486,000 after purchasing an additional 276,259 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in FOX during the 3rd quarter worth $119,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of FOX by 22.8% during the third quarter. BNP Paribas Financial Markets now owns 822,132 shares of the company’s stock worth $34,801,000 after buying an additional 152,508 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FOX

In other FOX news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 469,352 shares of company stock worth $20,822,072. Company insiders own 21.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on FOXA shares. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Guggenheim boosted their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. UBS Group lifted their price target on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Macquarie restated a “neutral” rating and issued a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, FOX presently has a consensus rating of “Hold” and a consensus price target of $44.00.

FOX Trading Down 0.6 %

NASDAQ:FOXA opened at $46.07 on Thursday. The stock has a 50-day simple moving average of $44.12 and a 200-day simple moving average of $39.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The stock has a market cap of $21.04 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.21 and a beta of 0.77. Fox Co. has a 1 year low of $28.28 and a 1 year high of $47.58.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. As a group, analysts anticipate that Fox Co. will post 3.94 earnings per share for the current fiscal year.

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.