Quinn Opportunity Partners LLC Lowers Stake in Fox Co. (NASDAQ:FOXA)

Quinn Opportunity Partners LLC reduced its position in shares of Fox Co. (NASDAQ:FOXA) by 38.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,570 shares of the company’s stock after selling 15,100 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in FOX were worth $837,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FOXA. Raymond James Financial Services Advisors Inc. boosted its stake in shares of FOX by 13.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,289 shares of the company’s stock worth $800,000 after acquiring an additional 2,440 shares in the last quarter. American Century Companies Inc. raised its position in shares of FOX by 2.6% during the 1st quarter. American Century Companies Inc. now owns 56,001 shares of the company’s stock worth $2,210,000 after purchasing an additional 1,428 shares during the last quarter. US Bancorp DE raised its position in shares of FOX by 34.7% during the 1st quarter. US Bancorp DE now owns 12,614 shares of the company’s stock worth $498,000 after purchasing an additional 3,249 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of FOX by 6.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 24,691 shares of the company’s stock worth $974,000 after purchasing an additional 1,486 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of FOX by 196.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,717 shares of the company’s stock worth $107,000 after purchasing an additional 1,800 shares during the last quarter. 55.93% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Up 1.6 %

FOXA stock opened at $31.36 on Friday. The firm has a market cap of $15.34 billion, a PE ratio of 13.52, a PEG ratio of 1.05 and a beta of 0.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.78 and a current ratio of 1.93. The firm’s 50 day moving average price is $33.24 and its 200-day moving average price is $33.16. Fox Co. has a one year low of $28.01 and a one year high of $37.26.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.71 by $0.17. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.03 billion. FOX had a net margin of 8.31% and a return on equity of 16.98%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. On average, equities research analysts anticipate that Fox Co. will post 3.03 EPS for the current year.

FOX Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, August 30th will be paid a $0.26 dividend. This is an increase from FOX’s previous Semi-Annual dividend of $0.25. The ex-dividend date is Tuesday, August 29th. This represents a dividend yield of 1.5%. FOX’s payout ratio is 22.41%.

Wall Street Analysts Forecast Growth

FOXA has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of FOX in a research report on Thursday, August 17th. They set a “hold” rating for the company. Credit Suisse Group restated a “neutral” rating and set a $33.00 price target on shares of FOX in a research report on Wednesday, August 9th. Rosenblatt Securities upped their price target on shares of FOX from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 5th. JPMorgan Chase & Co. increased their price objective on shares of FOX from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. Finally, Citigroup increased their price objective on shares of FOX from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.56.

Insiders Place Their Bets

In other FOX news, insider Viet D. Dinh sold 231,865 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $33.40, for a total value of $7,744,291.00. Following the completion of the transaction, the insider now owns 56,161 shares in the company, valued at $1,875,777.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other FOX news, insider Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $33.62, for a total value of $3,362,000.00. Following the completion of the transaction, the insider now owns 157,513 shares in the company, valued at $5,295,587.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Viet D. Dinh sold 231,865 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $33.40, for a total transaction of $7,744,291.00. Following the transaction, the insider now owns 56,161 shares of the company’s stock, valued at approximately $1,875,777.40. The disclosure for this sale can be found here. Insiders own 19.86% of the company’s stock.

FOX Profile

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.