DRW Securities LLC Cuts Stock Holdings in Fox Co. (NASDAQ:FOXA)

DRW Securities LLC lessened its holdings in Fox Co. (NASDAQ:FOXA) by 41.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,426 shares of the company’s stock after selling 7,262 shares during the quarter. DRW Securities LLC’s holdings in FOX were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of FOX by 44,205.3% in the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after buying an additional 7,897,710 shares during the period. Retirement Systems of Alabama lifted its holdings in FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after acquiring an additional 912,250 shares during the period. AXA S.A. boosted its position in shares of FOX by 294.2% during the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after purchasing an additional 663,089 shares in the last quarter. Independent Franchise Partners LLP boosted its position in shares of FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after purchasing an additional 597,450 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of FOX by 25.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock worth $83,208,000 after purchasing an additional 492,467 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Transactions at FOX

In related news, COO John Nallen sold 182,481 shares of the company’s 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 completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock worth $20,822,072 over the last quarter. 21.77% of the stock is currently owned by insiders.

FOX Price Performance

FOX stock opened at $46.15 on Wednesday. The stock has a market capitalization of $21.08 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.20 and a beta of 0.76. Fox Co. has a 12-month low of $28.28 and a 12-month high of $47.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The firm’s 50-day moving average is $43.12 and its two-hundred day moving average is $38.90.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion for 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%. FOX’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 earnings per share. Equities analysts predict that Fox Co. will post 3.94 earnings per share for the current year.

Analysts Set New Price Targets

FOXA has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. UBS Group boosted their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Cfra reissued a “sell” rating on shares of FOX in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, FOX has a consensus rating of “Hold” and an average target price of $44.00.

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.