Fort Washington Investment Advisors Inc. OH Grows Position in Fox Corporation $FOXA

Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Fox Corporation (NASDAQ:FOXA) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 662,247 shares of the company’s stock after purchasing an additional 56,234 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.15% of FOX worth $41,761,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its stake in shares of FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock valued at $101,948,000 after buying an additional 762,645 shares during the period. AQR Capital Management LLC boosted its holdings in FOX by 101.6% in the first quarter. AQR Capital Management LLC now owns 1,420,195 shares of the company’s stock valued at $78,381,000 after acquiring an additional 715,583 shares during the last quarter. New Vernon Capital Holdings II LLC grew its position in FOX by 5,560.0% during the first quarter. New Vernon Capital Holdings II LLC now owns 496,495 shares of the company’s stock valued at $28,102,000 after acquiring an additional 487,723 shares during the period. CSM Advisors LLC purchased a new stake in FOX during the second quarter valued at about $25,787,000. Finally, Strs Ohio acquired a new stake in FOX during the first quarter worth about $23,727,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Down 0.6%

Shares of NASDAQ:FOXA opened at $73.84 on Tuesday. The company has a market capitalization of $32.78 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.66 and a beta of 0.51. The company has a 50 day moving average of $66.83 and a two-hundred day moving average of $60.97. Fox Corporation has a 52-week low of $46.42 and a 52-week high of $74.67. The company has a quick ratio of 3.03, a current ratio of 3.24 and a debt-to-equity ratio of 0.54.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $3.57 billion. During the same quarter in the previous year, the firm posted $1.45 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup lifted their price objective on FOX from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Guggenheim raised their price target on shares of FOX from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 22nd. TD Cowen boosted their price objective on shares of FOX from $53.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, October 31st. UBS Group set a $87.00 price objective on shares of FOX in a research report on Friday, December 19th. Finally, Arete Research raised shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 target price on the stock in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.63.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $59.26, for a total transaction of $5,926,000.00. Following the sale, the chairman directly owned 1,100,862 shares in the company, valued at $65,237,082.12. The trade was a 8.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam G. Ciongoli sold 29,897 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total value of $2,079,336.35. Following the completion of the transaction, the insider directly owned 35,978 shares in the company, valued at approximately $2,502,269.90. The trade was a 45.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 454,817 shares of company stock valued at $29,490,590 in the last three months. 19.68% of the stock is owned by insiders.

FOX Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.