Marshall Wace LLP Grows Stake in Fox Corporation $FOXA

Marshall Wace LLP increased its position in Fox Corporation (NASDAQ:FOXA) by 415.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 230,570 shares of the company’s stock after acquiring an additional 185,859 shares during the quarter. Marshall Wace LLP’s holdings in FOX were worth $12,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FOXA. Nuveen LLC purchased a new position in shares of FOX in the first quarter worth approximately $63,125,000. Junto Capital Management LP bought a new position in FOX in the first quarter worth approximately $53,681,000. Ameriprise Financial Inc. boosted its stake in shares of FOX by 537.0% during the 1st quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company’s stock worth $59,909,000 after acquiring an additional 892,437 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of FOX by 101.6% during the 1st quarter. AQR Capital Management LLC now owns 1,420,195 shares of the company’s stock worth $78,381,000 after acquiring an additional 715,583 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of FOX by 1,355.2% during the 1st quarter. 1832 Asset Management L.P. now owns 618,303 shares of the company’s stock valued at $34,996,000 after acquiring an additional 575,813 shares during the period. Institutional investors own 52.52% of the company’s stock.

Insider Activity at FOX

In other FOX news, Director Paul D. Ryan sold 17,767 shares of FOX stock in a transaction on Friday, October 31st. The shares were sold at an average price of $64.36, for a total value of $1,143,484.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $59.26, for a total transaction of $5,926,000.00. Following the transaction, the chairman directly owned 1,100,862 shares of the company’s stock, valued at $65,237,082.12. This trade represents a 8.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 454,817 shares of company stock valued at $29,490,590. 19.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FOXA. Barclays raised their target price on FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Fox Advisors set a $97.00 price objective on FOX in a research note on Tuesday, October 28th. JPMorgan Chase & Co. boosted their price objective on FOX from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Bank of America raised their target price on shares of FOX from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Finally, Evercore ISI upped their price target on shares of FOX from $55.00 to $66.00 and gave the stock an “in-line” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $70.50.

FOX Stock Up 2.0%

NASDAQ FOXA opened at $71.74 on Thursday. Fox Corporation has a 12 month low of $45.91 and a 12 month high of $71.97. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. The stock has a market cap of $31.85 billion, a PE ratio of 16.12, a P/E/G ratio of 1.57 and a beta of 0.51. The stock’s 50 day moving average is $63.40 and its 200 day moving average is $59.32.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the business posted $1.45 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.

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.