Plato Investment Management Ltd Sells 17,407 Shares of Fox Co. (NASDAQ:FOXA)

Plato Investment Management Ltd lessened its stake in shares of Fox Co. (NASDAQ:FOXA) by 67.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,227 shares of the company’s stock after selling 17,407 shares during the period. Plato Investment Management Ltd’s holdings in FOX were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake in FOX by 31.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock valued at $15,523,000 after buying an additional 117,458 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of FOX by 25.2% in the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after purchasing an additional 28,072 shares in the last quarter. UniSuper Management Pty Ltd increased its position in FOX by 565.6% in the first quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock worth $745,000 after purchasing an additional 20,250 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in FOX during the first quarter valued at $609,000. Finally, Edgestream Partners L.P. lifted its position in FOX by 283.7% during the first quarter. Edgestream Partners L.P. now owns 46,029 shares of the company’s stock valued at $1,439,000 after purchasing an additional 34,034 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Rosenblatt Securities upped their target price on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Evercore ISI raised FOX to a “hold” rating in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their target price on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group raised their price target on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Guggenheim boosted their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, FOX has an average rating of “Hold” and an average price target of $44.00.

FOX Stock Performance

Shares of FOX stock opened at $45.64 on Friday. Fox Co. has a 12 month low of $28.28 and a 12 month high of $47.58. The stock’s fifty day moving average price is $42.12 and its 200-day moving average price is $38.04. The firm has a market cap of $21.00 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.20 and a beta of 0.76. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.38 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts expect that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction 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 approximately $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction dated 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 owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

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.