Cacti Asset Management LLC Lowers Stock Holdings in Fox Co. (NASDAQ:FOX)

Cacti Asset Management LLC trimmed its holdings in Fox Co. (NASDAQ:FOX) by 0.2% in the fourth quarter, HoldingsChannel reports. The fund owned 852,992 shares of the company’s stock after selling 1,770 shares during the period. FOX makes up 3.0% of Cacti Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Cacti Asset Management LLC’s holdings in FOX were worth $39,306,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Glenmede Trust Co. NA grew its position in FOX by 136.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after purchasing an additional 449 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in shares of FOX during the 3rd quarter valued at about $74,000. Exchange Traded Concepts LLC bought a new position in shares of FOX in the 3rd quarter worth approximately $128,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in FOX during the second quarter valued at approximately $136,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in FOX by 1,269.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,560 shares of the company’s stock valued at $138,000 after buying an additional 3,300 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

Shares of FOX stock traded up $0.54 during trading hours on Thursday, reaching $46.28. The company’s stock had a trading volume of 187,296 shares, compared to its average volume of 1,100,395. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. Fox Co. has a one year low of $25.82 and a one year high of $47.80. The stock has a market cap of $21.14 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.58 and a beta of 0.82. The firm has a 50 day moving average price of $43.55 and a 200-day moving average price of $38.66.

Insider Buying and Selling at FOX

In related news, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. The trade was a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,053,505 shares of company stock valued at $47,705,970 in the last quarter. 23.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FOX. Barclays upgraded FOX to a “hold” rating in a research report on Wednesday, October 9th. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th.

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.