Fox Corporation (NASDAQ:FOXA) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,645 shares of the company’s stock after selling 1,519 shares during the period. Cerity Partners LLC’s holdings in FOX were worth $1,735,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FOXA. Allworth Financial LP increased its position in shares of FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company’s stock valued at $45,000 after acquiring an additional 280 shares during the period. Linden Thomas Advisory Services LLC increased its position in shares of FOX by 0.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 49,869 shares of the company’s stock valued at $2,823,000 after acquiring an additional 293 shares during the period. Greenleaf Trust increased its position in shares of FOX by 3.1% in the 1st quarter. Greenleaf Trust now owns 6,778 shares of the company’s stock valued at $384,000 after acquiring an additional 205 shares during the period. Callan Capital LLC increased its position in shares of FOX by 10.5% in the 1st quarter. Callan Capital LLC now owns 5,949 shares of the company’s stock valued at $337,000 after acquiring an additional 564 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of FOX by 5.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 222,922 shares of the company’s stock valued at $12,617,000 after acquiring an additional 12,483 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FOX

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares of the company’s stock, valued at $7,405,941.90. This represents a 22.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 21.77% of the company’s stock.

FOX Stock Down 0.2%

Shares of NASDAQ FOXA opened at $56.25 on Monday. Fox Corporation has a 1 year low of $36.09 and a 1 year high of $58.74. The firm’s 50 day moving average price is $55.27 and its 200 day moving average price is $53.03. The firm has a market cap of $25.29 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. FOX’s revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 earnings per share. As a group, sell-side analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FOXA. Wells Fargo & Company upped their target price on FOX from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. Bank of America upped their price target on shares of FOX from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Barclays reaffirmed an “outperform” rating on shares of FOX in a report on Tuesday, May 13th. Guggenheim reaffirmed a “buy” rating and issued a $62.00 price target (up from $60.00) on shares of FOX in a report on Wednesday, June 25th. Finally, UBS Group set a $65.00 price target on shares of FOX and gave the company a “buy” rating in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $53.53.

About FOX

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.