Qsemble Capital Management LP Takes Position in Fox Co. (NASDAQ:FOXA)

Qsemble Capital Management LP bought a new position in shares of Fox Co. (NASDAQ:FOXA) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,531 shares of the company’s stock, valued at approximately $403,000.

A number of other institutional investors have also added to or reduced their stakes in FOXA. Pacer Advisors Inc. grew its position in FOX by 44,205.3% during the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after buying an additional 7,897,710 shares in the last quarter. Retirement Systems of Alabama lifted its stake in FOX by 1,727.2% during the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after purchasing an additional 912,250 shares during the period. AXA S.A. lifted its stake in FOX by 294.2% during the second quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after purchasing an additional 663,089 shares during the period. Independent Franchise Partners LLP lifted its stake in FOX by 3.3% during the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after purchasing an additional 597,450 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its stake in FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock worth $83,208,000 after purchasing an additional 492,467 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’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 owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock worth $20,822,072 over the last ninety days. Company insiders own 21.77% of the company’s stock.

FOX Trading Up 1.2 %

Shares of NASDAQ FOXA opened at $46.71 on Thursday. The company’s 50 day simple moving average is $43.24 and its 200 day simple moving average is $38.95. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The firm has a market capitalization of $21.33 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.18 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the business posted $1.09 earnings per share. FOX’s revenue was up 11.1% compared to the same quarter last year. On average, analysts predict that Fox Co. will post 3.94 EPS for the current year.

Analyst Upgrades and Downgrades

FOXA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their target price on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Loop Capital increased their price target on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. TD Cowen lifted their price objective on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their target price on FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.00.

FOX Company Profile

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.