Wedge Capital Management L L P NC Buys Shares of 1,062,664 Fox Co. (NASDAQ:FOX)

Wedge Capital Management L L P NC purchased a new position in shares of Fox Co. (NASDAQ:FOX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,062,664 shares of the company’s stock, valued at approximately $48,606,000. FOX accounts for about 0.9% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 28th biggest position.

Other hedge funds have also made changes to their positions in the company. Glenmede Trust Co. NA raised its holdings in shares of FOX by 136.9% during the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after buying an additional 449 shares during the last quarter. Intact Investment Management Inc. bought a new stake in FOX during the 3rd quarter valued at $74,000. Exchange Traded Concepts LLC acquired a new position in FOX during the 3rd quarter worth $128,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of FOX during the second quarter valued at $136,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of FOX by 1,269.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,560 shares of the company’s stock valued at $138,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors own 26.41% of the company’s stock.

Insider Activity

In other FOX news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction 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 sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,053,505 shares of company stock worth $47,705,970 over the last 90 days. 23.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Barclays raised shares of FOX to a “hold” rating in a research note on Wednesday, October 9th.

FOX Stock Performance

FOX opened at $45.66 on Friday. Fox Co. has a 1-year low of $25.82 and a 1-year high of $47.80. The company has a market capitalization of $20.85 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.66 and a beta of 0.81. The business has a 50 day moving average price of $45.13 and a two-hundred day moving average price of $39.83. 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 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.