Gamco Investors INC. ET AL Lowers Stake in Fox Corporation $FOXA

Gamco Investors INC. ET AL cut its holdings in Fox Corporation (NASDAQ:FOXA) by 22.0% during the first quarter, HoldingsChannel reports. The firm owned 291,625 shares of the company’s stock after selling 82,338 shares during the period. Gamco Investors INC. ET AL’s holdings in FOX were worth $17,031,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FOXA. FWL Investment Management LLC acquired a new stake in shares of FOX during the third quarter worth about $26,000. Elyxium Wealth LLC purchased a new position in shares of FOX during the fourth quarter worth about $27,000. CYBER HORNET ETFs LLC acquired a new position in FOX in the 2nd quarter valued at about $35,000. Quantbot Technologies LP acquired a new position in FOX in the 3rd quarter valued at about $51,000. Finally, Private Trust Co. NA raised its stake in FOX by 35.6% during the 4th quarter. Private Trust Co. NA now owns 712 shares of the company’s stock valued at $52,000 after acquiring an additional 187 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $79.00 price objective on shares of FOX in a research report on Tuesday, May 12th. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wolfe Research upgraded FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 price target for the company in a research note on Tuesday, June 30th. Seaport Research Partners reaffirmed a “buy” rating and set a $61.00 price target on shares of FOX in a report on Tuesday, June 16th. Finally, Wells Fargo & Company lowered their price objective on shares of FOX from $71.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.56.

FOX Stock Performance

NASDAQ:FOXA opened at $55.31 on Friday. The firm’s fifty day simple moving average is $58.57 and its 200-day simple moving average is $61.74. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. The stock has a market cap of $23.24 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.57 and a beta of 0.54. Fox Corporation has a fifty-two week low of $48.34 and a fifty-two week high of $76.39.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, May 11th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the business earned $1.10 earnings per share. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. Analysts expect that Fox Corporation will post 4.96 earnings per share for the current fiscal year.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.