Fox Corporation (NASDAQ:FOXA) Shares Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. raised its position in Fox Corporation (NASDAQ:FOXA) by 40.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,243 shares of the company’s stock after buying an additional 2,661 shares during the period. Avantax Advisory Services Inc.’s holdings in FOX were worth $523,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FOXA. Machina Capital S.A.S. grew its stake in FOX by 27.4% in the first quarter. Machina Capital S.A.S. now owns 12,368 shares of the company’s stock worth $700,000 after purchasing an additional 2,663 shares in the last quarter. Price Capital Management Inc. acquired a new stake in FOX during the first quarter valued at approximately $1,552,000. Convergence Investment Partners LLC lifted its holdings in FOX by 168.4% during the 1st quarter. Convergence Investment Partners LLC now owns 44,452 shares of the company’s stock worth $2,516,000 after buying an additional 27,891 shares during the last quarter. Mount Lucas Management LP bought a new position in FOX during the 1st quarter worth approximately $2,921,000. Finally, Venturi Wealth Management LLC grew its position in shares of FOX by 59.8% in the 1st quarter. Venturi Wealth Management LLC now owns 5,096 shares of the company’s stock worth $288,000 after acquiring an additional 1,907 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Trading Down 3.7%

Shares of FOXA stock opened at $54.89 on Wednesday. Fox Corporation has a 12-month low of $36.85 and a 12-month high of $58.74. The company has a market capitalization of $24.68 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.27 and a beta of 0.54. The firm has a 50 day moving average price of $55.46 and a two-hundred day moving average price of $53.61. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.26. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 EPS. As a group, analysts predict that Fox Corporation will post 4.38 earnings per share for the current year.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of research reports. Cowen reissued a “hold” rating on shares of FOX in a report on Tuesday, May 13th. Cfra Research lowered shares of FOX from a “moderate buy” rating to a “hold” rating in a research note on Friday, June 27th. Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a report on Wednesday, July 9th. Bank of America upped their target price on FOX from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Finally, Guggenheim reiterated a “buy” rating and set a $62.00 price target (up from $60.00) on shares of FOX in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.53.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 39,642 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at $7,405,941.90. This represents a 22.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 21.77% of the company’s stock.

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.