Denali Advisors LLC Invests $804,000 in Fox Co. (NASDAQ:FOXA)

Denali Advisors LLC acquired a new position in shares of Fox Co. (NASDAQ:FOXA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,555 shares of the company’s stock, valued at approximately $804,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in FOX in the 4th quarter worth approximately $28,000. Brooklyn Investment Group grew its stake in shares of FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after acquiring an additional 466 shares during the last quarter. Quest Partners LLC bought a new position in FOX during the third quarter worth $51,000. Quarry LP acquired a new position in FOX during the 3rd quarter valued at $70,000. Finally, Versant Capital Management Inc boosted its holdings in FOX by 3,551.1% in the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after purchasing an additional 1,669 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

Shares of NASDAQ:FOXA opened at $56.84 on Thursday. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a 1-year low of $28.28 and a 1-year high of $58.38. The stock has a market capitalization of $25.77 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.27 and a beta of 0.76. The business has a 50-day moving average price of $51.36 and a two-hundred day moving average price of $45.89.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. FOX’s revenue for the quarter was up 19.9% compared to the same quarter last year. Equities analysts predict that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio (DPR) is presently 11.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FOXA. Citigroup boosted their price objective on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Barclays boosted their price target on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 price target on FOX and gave the company a “buy” rating in a report on Tuesday, February 4th. UBS Group lifted their price objective on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $51.19.

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate 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.