SG Americas Securities LLC Acquires 383,782 Shares of Fox Corporation $FOXA

SG Americas Securities LLC raised its holdings in Fox Corporation (NASDAQ:FOXA) by 299.8% during the first quarter, HoldingsChannel reports. The firm owned 511,811 shares of the company’s stock after acquiring an additional 383,782 shares during the quarter. SG Americas Securities LLC’s holdings in FOX were worth $29,890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FWL Investment Management LLC acquired a new position in shares of FOX during the 3rd quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in FOX in the fourth quarter valued at about $27,000. CYBER HORNET ETFs LLC bought a new position in FOX in the second quarter valued at about $35,000. Rosenberg Matthew Hamilton grew its position in FOX by 58.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock valued at $51,000 after acquiring an additional 257 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in FOX during the third quarter worth about $51,000. Institutional investors own 52.52% of the company’s stock.

FOX Price Performance

FOX stock opened at $48.79 on Wednesday. The stock’s 50 day moving average is $63.01 and its 200 day moving average is $64.49. Fox Corporation has a one year low of $48.55 and a one year high of $76.39. The firm has a market cap of $20.50 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.76 and a beta of 0.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm posted $1.10 EPS. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, research analysts expect that Fox Corporation will post 4.93 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on FOXA. Weiss Ratings restated a “buy (b-)” rating on shares of FOX in a research note on Friday, May 22nd. Seaport Research Partners reissued a “buy” rating and issued a $61.00 price objective on shares of FOX in a research note on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $79.00 target price on shares of FOX in a research report on Tuesday, May 12th. Wells Fargo & Company boosted their target price on shares of FOX from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, FOX has an average rating of “Hold” and an average target price of $74.36.

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.