Verity Asset Management Inc. Makes New Investment in Fox Co. (NASDAQ:FOXA)

Verity Asset Management Inc. bought a new position in shares of Fox Co. (NASDAQ:FOXA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,536 shares of the company’s stock, valued at approximately $204,000.

Several other large investors also recently bought and sold shares of FOXA. PGGM Investments boosted its holdings in shares of FOX by 4.7% in the 1st quarter. PGGM Investments now owns 38,460 shares of the company’s stock valued at $1,203,000 after acquiring an additional 1,741 shares during the last quarter. Swedbank AB purchased a new stake in shares of FOX in the 1st quarter valued at $4,466,000. Plato Investment Management Ltd purchased a new stake in shares of FOX in the 1st quarter valued at $802,000. iA Global Asset Management Inc. boosted its holdings in shares of FOX by 45.0% in the 1st quarter. iA Global Asset Management Inc. now owns 32,806 shares of the company’s stock valued at $1,026,000 after acquiring an additional 10,179 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of FOX by 25.2% in the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after acquiring an additional 28,072 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on FOXA. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $34.00 price objective on shares of FOX in a report on Monday, April 15th. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of FOX from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Barclays boosted their target price on shares of FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, May 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $42.00 target price on shares of FOX in a research note on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.38.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total value of $407,006.64. Following the completion of the sale, the chairman now owns 1,408,862 shares of the company’s stock, valued at $43,519,747.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other FOX news, Chairman Keith Rupert Murdoch sold 13,176 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the completion of the transaction, the chairman now owns 1,408,862 shares of the company’s stock, valued at $43,519,747.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven Tomsic sold 30,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the transaction, the chief financial officer now directly 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. 21.77% of the stock is currently owned by insiders.

FOX Price Performance

Shares of FOX stock traded down $0.46 during trading hours on Friday, reaching $37.31. 2,132,481 shares of the company’s stock were exchanged, compared to its average volume of 2,186,745. 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 Co. has a 1 year low of $28.28 and a 1 year high of $38.55. The business has a fifty day moving average of $35.17 and a two-hundred day moving average of $32.45. The company has a market capitalization of $17.41 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.51 and a beta of 0.77.

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

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.