Twin Tree Management LP Sells 37,997 Shares of Fox Co. (NASDAQ:FOXA)

Twin Tree Management LP reduced its stake in Fox Co. (NASDAQ:FOXA) by 76.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,595 shares of the company’s stock after selling 37,997 shares during the period. Twin Tree Management LP’s holdings in FOX were worth $563,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SRS Capital Advisors Inc. increased its holdings in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after acquiring an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX in the 4th quarter valued at $28,000. Jones Financial Companies Lllp increased its holdings in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares during the last quarter. Brooklyn Investment Group increased its holdings in FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after acquiring an additional 466 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in FOX in the 3rd quarter valued at $51,000. 52.52% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % 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, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Price Performance

NASDAQ FOXA opened at $52.38 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm’s 50 day moving average price is $52.79 and its 200-day moving average price is $47.33. Fox Co. has a 52-week low of $29.53 and a 52-week high of $58.74. The company has a market cap of $23.75 billion, a PE ratio of 11.22, a P/E/G ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm earned $0.34 earnings per share. The company’s quarterly revenue was up 19.9% on a year-over-year basis. Sell-side analysts forecast that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio is presently 11.56%.

Analyst Ratings Changes

A number of analysts have recently weighed in on FOXA shares. Wells Fargo & Company boosted their target price on shares of FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Citigroup boosted their target price on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Loop Capital boosted their target price on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price target on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Guggenheim lifted their price target on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.19.

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.