Fox Corporation $FOXA Shares Sold by Horizon Investments LLC

Horizon Investments LLC trimmed its stake in Fox Corporation (NASDAQ:FOXA) by 92.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,482 shares of the company’s stock after selling 44,349 shares during the quarter. Horizon Investments LLC’s holdings in FOX were worth $254,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. FWL Investment Management LLC acquired a new position in shares of FOX in the third quarter worth $26,000. CYBER HORNET ETFs LLC acquired a new position in shares of FOX in the second quarter worth $35,000. Rosenberg Matthew Hamilton raised its holdings in shares of FOX by 58.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after acquiring an additional 257 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of FOX in the third quarter worth $51,000. Finally, Private Trust Co. NA raised its holdings in shares of FOX by 35.6% in the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock worth $52,000 after acquiring an additional 187 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FOX

In other FOX news, COO John Nallen sold 216,806 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the completion of the sale, the chief operating officer owned 362,206 shares of the company’s stock, valued at approximately $20,892,042.08. The trade was a 37.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $58.20, for a total value of $37,117,166.40. Following the sale, the chief executive officer directly owned 152 shares of the company’s stock, valued at approximately $8,846.40. This trade represents a 99.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,586,871 shares of company stock valued at $91,893,926. 19.68% of the stock is owned by company insiders.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $62.94 on Friday. The company has a market cap of $26.77 billion, a P/E ratio of 15.13, a P/E/G ratio of 7.75 and a beta of 0.52. The company has a quick ratio of 2.44, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. Fox Corporation has a 52 week low of $50.03 and a 52 week high of $76.39. The business has a fifty day simple moving average of $60.15 and a 200-day simple moving average of $64.79.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.35. FOX had a return on equity of 18.14% and a net margin of 11.41%.The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that Fox Corporation will post 4.6 EPS for the current year.

Wall Street Analyst Weigh In

FOXA has been the subject of a number of analyst reports. Evercore boosted their price target on FOX from $66.00 to $70.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Zacks Research cut FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. UBS Group set a $64.00 price target on FOX in a report on Tuesday, February 24th. Bank of America downgraded FOX from a “buy” rating to an “underperform” rating and set a $45.00 price objective for the company. in a research report on Wednesday, February 25th. Finally, Barclays lowered their price objective on FOX from $64.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, FOX presently has a consensus rating of “Hold” and a consensus target price of $72.93.

About FOX

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.