Quantbot Technologies LP Raises Stock Position in Fox Co. (NASDAQ:FOXA)

Quantbot Technologies LP boosted its stake in Fox Co. (NASDAQ:FOXA) by 21.2% in the 3rd quarter, Holdings Channel reports. The firm owned 239,675 shares of the company’s stock after buying an additional 41,894 shares during the quarter. FOX accounts for approximately 0.4% of Quantbot Technologies LP’s portfolio, making the stock its 27th biggest position. Quantbot Technologies LP’s holdings in FOX were worth $10,145,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FOXA. Massmutual Trust Co. FSB ADV lifted its position in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after acquiring an additional 461 shares in the last quarter. Quest Partners LLC purchased a new position in shares of FOX in the third quarter valued at $51,000. Friedenthal Financial acquired a new stake in FOX during the 2nd quarter valued at $51,000. Duncker Streett & Co. Inc. purchased a new stake in FOX during the 2nd quarter worth $52,000. Finally, Bessemer Group Inc. lifted its holdings in FOX by 11.0% in the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock worth $103,000 after buying an additional 326 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Performance

Shares of FOXA stock opened at $46.08 on Tuesday. The company has a market cap of $21.05 billion, a P/E ratio of 11.27, a PEG ratio of 1.20 and a beta of 0.76. The business has a 50 day moving average of $43.00 and a two-hundred day moving average of $38.81. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.58. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FOXA shares. Deutsche Bank Aktiengesellschaft raised their target price on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays lifted their price objective on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Bank of America increased their target price on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Loop Capital lifted their price target on shares of FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their price objective on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Hold” and an average price target of $44.00.

Insider Activity at FOX

In other news, COO John Nallen sold 182,481 shares of the stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

FOX Company Profile

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.