37,022 Shares of Fox Corporation $FOX Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Fox Corporation (NASDAQ:FOX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 37,022 shares of the company’s stock, valued at approximately $2,084,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FOX. Wedge Capital Management L L P NC bought a new stake in shares of FOX during the second quarter valued at approximately $35,047,000. Cooper Investors PTY Ltd. bought a new position in shares of FOX in the 3rd quarter worth $24,136,000. Assenagon Asset Management S.A. lifted its holdings in shares of FOX by 54.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 655,706 shares of the company’s stock worth $36,916,000 after purchasing an additional 231,724 shares in the last quarter. Foster & Motley Inc. bought a new position in shares of FOX in the 2nd quarter worth $9,237,000. Finally, Perpetual Ltd grew its position in FOX by 174.1% in the 3rd quarter. Perpetual Ltd now owns 156,900 shares of the company’s stock valued at $8,833,000 after purchasing an additional 99,667 shares during the period. Institutional investors own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

FOX has been the subject of several analyst reports. Wells Fargo & Company raised FOX from a “hold” rating to an “overweight” rating and set a $80.00 price objective for the company in a research note on Friday, August 14th. Wolfe Research set a $93.00 price objective on FOX in a research note on Thursday, August 20th. Royal Bank Of Canada set a $95.00 price objective on shares of FOX in a report on Tuesday, October 20th. Seaport Research Partners cut shares of FOX from a “buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, Guggenheim reaffirmed a “buy” rating on shares of FOX in a research report on Tuesday, August 25th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Buy” and an average target price of $79.50.

FOX Stock Down 0.8%

Shares of NASDAQ FOX opened at $59.50 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.79 and a quick ratio of 2.99. The stock has a market capitalization of $24.97 billion, a PE ratio of 12.63, a P/E/G ratio of 1.30 and a beta of 0.66. Fox Corporation has a one year low of $44.08 and a one year high of $68.18. The business’s fifty day moving average price is $57.92 and its 200-day moving average price is $55.84.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.48. FOX had a net margin of 11.30% and a return on equity of 23.96%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.32 billion. On average, equities research analysts anticipate that Fox Corporation will post 6.54 EPS for the current year.

Insider Activity at FOX

In related news, CEO Lachlan Murdoch purchased 149,934 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the acquisition, the chief executive officer directly owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 23.06% of the stock is owned by insiders.

FOX Profile

Fox Corporation is a U.S. media company that produces and distributes news, sports and entertainment programming. Its operations include the FOX broadcast network, Fox News Media, Fox Sports, FOX Entertainment and Fox Television Stations. The company also owns Tubi, an ad-supported streaming service.

Fox Corporation was formed in 2019 after The Walt Disney Company acquired much of 21st Century Fox. The company’s programming and services are primarily aimed at audiences in the United States, with content also distributed to viewers in other markets.

Lachlan Murdoch serves as Fox Corporation’s executive chair and chief executive officer.