Assetmark Inc. Sells 15,280 Shares of Fox Co. (NASDAQ:FOXA)

Assetmark Inc. cut its holdings in shares of Fox Co. (NASDAQ:FOXA) by 6.2% in the 3rd quarter, Holdings Channel reports. The firm owned 229,260 shares of the company’s stock after selling 15,280 shares during the period. Assetmark Inc.’s holdings in FOX were worth $9,705,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its position in shares of FOX by 66.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,396 shares of the company’s stock worth $419,000 after buying an additional 5,331 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in FOX by 16.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 33,659 shares of the company’s stock worth $1,053,000 after acquiring an additional 4,776 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of FOX in the first quarter worth about $963,000. SG Americas Securities LLC boosted its stake in shares of FOX by 89.6% in the 1st quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock valued at $1,575,000 after purchasing an additional 23,791 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of FOX by 65.8% during the 1st quarter. Forsta AP Fonden now owns 177,900 shares of the company’s stock valued at $5,563,000 after purchasing an additional 70,600 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOX stock opened at $44.60 on Monday. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $41.66 and a two-hundred day moving average price of $37.66. Fox Co. has a 1-year low of $28.28 and a 1-year high of $45.82. The company has a market cap of $20.53 billion, a P/E ratio of 10.90, a PEG ratio of 1.19 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, analysts anticipate that Fox Co. will post 3.87 EPS for the current year.

Insider Activity

In related news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 335,355 shares of company stock worth $14,244,865 in the last quarter. 21.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FOXA shares. Bank of America increased their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Barclays raised their price objective on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. TD Cowen lifted their price target on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities upped their price objective on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, FOX presently has a consensus rating of “Hold” and an average price target of $44.00.

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.