Rossby Financial LCC Invests $522,000 in Fox Corporation (NASDAQ:FOXA)

by · The Cerbat Gem

Rossby Financial LCC purchased a new position in Fox Corporation (NASDAQ:FOXA – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,216 shares of the company’s stock, valued at approximately $522,000.

Other large investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC raised its stake in FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after buying an additional 368 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of FOX by 152.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company’s stock worth $1,800,000 after purchasing an additional 19,181 shares during the last quarter. Captrust Financial Advisors bought a new position in FOX in the 4th quarter worth about $306,000. Man Group plc bought a new position in FOX in the 4th quarter worth about $3,239,000. Finally, Center For Asset Management LLC purchased a new stake in FOX during the 1st quarter valued at about $841,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FOXA has been the topic of several analyst reports. Wolfe Research downgraded shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price on the stock. in a research note on Monday, April 7th. Cowen reaffirmed a “hold” rating on shares of FOX in a research report on Tuesday, May 13th. Wells Fargo & Company increased their target price on FOX from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Bank of America lifted their target price on FOX from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Finally, Loop Capital increased their price objective on FOX from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $53.53.

Get Our Latest Stock Report on FOXA

FOX Stock Down 0.1%

NASDAQ FOXA opened at $55.97 on Wednesday. Fox Corporation has a 52 week low of $33.84 and a 52 week high of $58.74. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $25.17 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 1.19 and a beta of 0.51. The stock’s 50-day moving average price is $53.68 and its 200-day moving average price is $52.41.

FOX (NASDAQ:FOXA – Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.14 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. The firm’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 EPS. On average, equities research analysts predict that Fox Corporation will post 4.38 earnings per share for the current year.

Insider Buying and Selling at FOX

In related news, CFO Steven Tomsic sold 39,642 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the transaction, the chief financial officer owned 133,923 shares of the company’s stock, valued at approximately $7,405,941.90. This represents a 22.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 21.77% of the company’s stock.

About FOX

(Free Report)

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.

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