Fox Co. (NASDAQ:FOXA) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC cut its stake in shares of Fox Co. (NASDAQ:FOXA) by 39.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,032 shares of the company’s stock after selling 42,913 shares during the period. Manning & Napier Advisors LLC’s holdings in FOX were worth $3,256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board acquired a new stake in FOX during the second quarter worth about $314,000. MBB Public Markets I LLC increased its position in FOX by 49.9% during the 2nd quarter. MBB Public Markets I LLC now owns 14,429 shares of the company’s stock worth $496,000 after purchasing an additional 4,806 shares in the last quarter. Algert Global LLC acquired a new stake in FOX during the 2nd quarter worth approximately $362,000. Creative Planning raised its holdings in FOX by 119.2% in the second quarter. Creative Planning now owns 29,277 shares of the company’s stock valued at $1,006,000 after buying an additional 15,921 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in FOX during the second quarter valued at approximately $962,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Up 0.8 %

Shares of NASDAQ:FOXA opened at $50.43 on Thursday. The company’s fifty day moving average is $48.08 and its two-hundred day moving average is $43.42. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. Fox Co. has a 1-year low of $28.28 and a 1-year high of $50.88. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.19 and a beta of 0.75.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. Equities analysts anticipate that Fox Co. will post 4.09 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FOXA shares. Barclays increased their price objective on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. 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 report on Tuesday, November 5th. Macquarie reaffirmed a “neutral” rating and issued a $43.00 target price on shares of FOX in a research report on Tuesday, November 5th. Bank of America raised their target price on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, StockNews.com cut FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, FOX presently has a consensus rating of “Hold” and an average target price of $48.25.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John Nallen sold 182,481 shares of the business’s 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 469,352 shares of company stock valued at $20,822,072. Insiders own 21.77% of the company’s stock.

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.