Plato Investment Management Ltd Takes Position in Fox Co. (NASDAQ:FOXA)

Plato Investment Management Ltd acquired a new stake in Fox Co. (NASDAQ:FOXA) during the 1st quarter, Holdings Channel.com reports. The firm acquired 25,634 shares of the company’s stock, valued at approximately $802,000.

Several other large investors have also bought and sold shares of the business. iA Global Asset Management Inc. lifted its holdings in FOX by 45.0% in the first quarter. iA Global Asset Management Inc. now owns 32,806 shares of the company’s stock valued at $1,026,000 after buying an additional 10,179 shares during the period. Jane Street Group LLC lifted its holdings in FOX by 25.2% in the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after buying an additional 28,072 shares during the period. Kodai Capital Management LP acquired a new position in FOX in the first quarter valued at approximately $3,505,000. Bayesian Capital Management LP acquired a new position in FOX in the first quarter valued at approximately $2,318,000. Finally, Mount Yale Investment Advisors LLC raised its holdings in FOX by 19.0% in the first quarter. Mount Yale Investment Advisors LLC now owns 185,567 shares of the company’s stock worth $5,803,000 after purchasing an additional 29,608 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Steven Tomsic sold 30,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the sale, the chief financial officer now owns 110,568 shares in the company, valued at approximately $3,788,059.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other FOX news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the sale, the chief financial officer now owns 110,568 shares in the company, valued at approximately $3,788,059.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $30.89, for a total transaction of $407,006.64. Following the completion of the sale, the chairman now owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Stock Performance

Shares of FOXA traded down $0.40 during midday trading on Friday, reaching $37.37. The stock had a trading volume of 813,417 shares, compared to its average volume of 3,030,382. The firm has a 50 day simple moving average of $35.10 and a 200-day simple moving average of $32.41. Fox Co. has a one year low of $28.28 and a one year high of $38.55. The firm has a market cap of $17.44 billion, a PE ratio of 11.84, a P/E/G ratio of 1.52 and a beta of 0.77. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.11. FOX had a net margin of 11.19% and a return on equity of 15.90%. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.44 billion. As a group, sell-side analysts anticipate that Fox Co. will post 3.33 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on FOXA. Macquarie increased their target price on shares of FOX from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. The Goldman Sachs Group reiterated a “buy” rating and issued a $42.00 target price on shares of FOX in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of FOX from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Bank of America upgraded shares of FOX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $40.00 in a report on Thursday, May 9th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $34.00 price objective on shares of FOX in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.38.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.