Polar Asset Management Partners Inc. Purchases Shares of 149,000 Fox Co. (NASDAQ:FOXA)

Polar Asset Management Partners Inc. bought a new position in shares of Fox Co. (NASDAQ:FOXA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 149,000 shares of the company’s stock, valued at approximately $6,307,000.

Other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its position in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial acquired a new position in shares of FOX during the second quarter worth approximately $51,000. Quest Partners LLC acquired a new position in shares of FOX during the third quarter worth approximately $51,000. Duncker Streett & Co. Inc. acquired a new position in shares of FOX during the second quarter worth approximately $52,000. Finally, GAMMA Investing LLC raised its position in shares of FOX by 97.6% during the second quarter. GAMMA Investing LLC now owns 3,334 shares of the company’s stock worth $115,000 after purchasing an additional 1,647 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FOXA shares. Morgan Stanley upped their target price on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Evercore ISI upgraded FOX to a “hold” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price target on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Guggenheim upped their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, TD Cowen upped their price target on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.00.

FOX Stock Down 0.2 %

FOXA stock opened at $46.30 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The company has a market capitalization of $21.15 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.20 and a beta of 0.77. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The stock has a fifty day moving average of $43.78 and a 200-day moving average of $39.43.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 EPS. As a group, equities research analysts predict that Fox Co. will post 3.94 earnings per share for the current year.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO John Nallen sold 182,481 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by company insiders.

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.