Merit Financial Group LLC Invests $233,000 in Fox Co. (NASDAQ:FOXA)

Merit Financial Group LLC bought a new stake in shares of Fox Co. (NASDAQ:FOXA) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,109 shares of the company’s stock, valued at approximately $233,000.

Several other large investors have also bought and sold shares of FOXA. WealthTrak Capital Management LLC acquired a new position in shares of FOX in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. raised its stake in shares of FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after acquiring an additional 262 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after buying an additional 368 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in FOX in the 4th quarter worth approximately $49,000. Institutional investors own 52.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on FOXA. Barclays reaffirmed an “outperform” rating on shares of FOX in a research report on Tuesday, May 13th. Cfra Research upgraded FOX from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 7th. UBS Group boosted their price objective on FOX from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. Finally, Loop Capital boosted their price objective on FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, FOX presently has an average rating of “Hold” and a consensus price target of $52.71.

FOX Trading Down 1.5%

NASDAQ:FOXA opened at $53.82 on Friday. Fox Co. has a 1-year low of $32.76 and a 1-year high of $58.74. The business’s 50-day moving average price is $51.96 and its two-hundred day moving average price is $51.58. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $24.20 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.17. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was up 26.8% on a year-over-year basis. On average, equities analysts expect that Fox Co. will post 4.38 earnings per share for the current year.

Insider Buying and Selling at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the sale, the chief financial officer now owns 133,923 shares of the company’s stock, valued at $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 21.77% 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 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.