Parallel Advisors LLC Decreases Stake in Fox Co. (NASDAQ:FOXA)

Parallel Advisors LLC cut its stake in Fox Co. (NASDAQ:FOXAFree Report) by 49.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 945 shares of the company’s stock after selling 918 shares during the quarter. Parallel Advisors LLC’s holdings in FOX were worth $28,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FOXA. LSV Asset Management increased its position in shares of FOX by 9.0% during the 4th quarter. LSV Asset Management now owns 8,293,153 shares of the company’s stock worth $246,058,000 after purchasing an additional 686,762 shares during the last quarter. Northern Trust Corp increased its position in shares of FOX by 67.8% during the 3rd quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock worth $175,993,000 after purchasing an additional 2,279,923 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of FOX by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,391,117 shares of the company’s stock worth $100,618,000 after purchasing an additional 51,942 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of FOX by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,443 shares of the company’s stock worth $68,996,000 after purchasing an additional 42,143 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of FOX during the 4th quarter worth about $68,391,000. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Steven Tomsic sold 30,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was 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 directly owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Keith Rupert Murdoch sold 13,176 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $43,519,747.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the sale, the chief financial officer now owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX Price Performance

FOXA stock opened at $34.11 on Monday. The business has a 50 day moving average price of $32.32 and a 200 day moving average price of $30.96. The stock has a market cap of $15.92 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.24 and a beta of 0.77. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $35.40. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67.

FOX (NASDAQ:FOXAGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.11. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.44 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. Equities research analysts anticipate that Fox Co. will post 3.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FOXA. Deutsche Bank Aktiengesellschaft lifted their target price on FOX from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Citigroup raised FOX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $35.00 in a research report on Friday, February 23rd. Macquarie lifted their target price on FOX from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Barclays lifted their target price on FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, May 13th. Finally, Seaport Res Ptn raised FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.83.

View Our Latest Stock Report on FOX

FOX Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding FOXA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fox Co. (NASDAQ:FOXAFree Report).

Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

Receive News & Ratings for FOX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FOX and related companies with MarketBeat.com's FREE daily email newsletter.