Mirae Asset Global Investments Co. Ltd. Buys New Holdings in Fox Corporation $FOXA

Mirae Asset Global Investments Co. Ltd. acquired a new position in Fox Corporation (NASDAQ:FOXA) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 56,289 shares of the company’s stock, valued at approximately $3,527,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Profund Advisors LLC bought a new stake in FOX during the third quarter valued at about $483,000. ProShare Advisors LLC bought a new position in shares of FOX during the 3rd quarter valued at approximately $2,682,000. Choreo LLC increased its holdings in FOX by 13.3% in the 3rd quarter. Choreo LLC now owns 11,709 shares of the company’s stock worth $734,000 after acquiring an additional 1,370 shares in the last quarter. Interchange Capital Partners LLC purchased a new stake in FOX in the 3rd quarter worth approximately $230,000. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in FOX by 75.7% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,056 shares of the company’s stock worth $66,000 after acquiring an additional 455 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FOXA. Fox Advisors set a $85.00 price target on shares of FOX in a report on Friday, October 16th. Citizens Jmp assumed coverage on shares of FOX in a research report on Monday, September 14th. They set a “market outperform” rating and a $95.00 price objective on the stock. Raymond James Financial upgraded shares of FOX to a “strong-buy” rating in a research note on Friday, October 16th. Seaport Research Partners downgraded shares of FOX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Finally, Sanford C. Bernstein increased their price target on FOX from $73.00 to $74.00 and gave the stock a “market perform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.16.

Insider Buying and Selling at FOX

In related news, CEO Lachlan Murdoch bought 149,934 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the transaction, the chief executive officer owned 1,401,713 shares in the company, valued at $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 20.89% of the company’s stock.

FOX Price Performance

NASDAQ FOXA traded down $1.03 during trading hours on Friday, reaching $66.64. The company’s stock had a trading volume of 19,576,650 shares, compared to its average volume of 5,016,970. The firm’s 50-day moving average price is $64.86 and its 200-day moving average price is $62.17. The company has a quick ratio of 2.99, a current ratio of 3.79 and a debt-to-equity ratio of 0.53. Fox Corporation has a 1 year low of $48.34 and a 1 year high of $76.39. The company has a market capitalization of $27.97 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.09 and a beta of 0.63.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 2nd. The company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.52. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.32 billion. FOX had a return on equity of 23.96% and a net margin of 11.30%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 EPS. On average, equities research analysts predict that Fox Corporation will post 5.97 EPS for the current fiscal year.

FOX Company Profile

Fox Corporation is a media company focused primarily on news, sports and entertainment for audiences in the United States. Its businesses include Fox News Media, Fox Sports and Fox Entertainment, which produce and distribute television programming, news coverage, live sports and entertainment content.

The company also operates the Fox broadcast network and local television stations, and offers streaming services including Tubi, an ad-supported streaming platform, and Fox Nation, a subscription service.