Fox Co. (NASDAQ:FOX) Stake Lessened by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD cut its stake in shares of Fox Co. (NASDAQ:FOX) by 71.4% during the third quarter, HoldingsChannel.com reports. The firm owned 100,000 shares of the company’s stock after selling 250,000 shares during the period. Polymer Capital Management HK LTD’s holdings in FOX were worth $3,880,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in FOX in the second quarter worth approximately $65,709,000. Independent Franchise Partners LLP lifted its stake in shares of FOX by 14.5% in the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock valued at $160,863,000 after purchasing an additional 636,247 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in FOX by 448.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,900 shares of the company’s stock worth $27,661,000 after purchasing an additional 582,900 shares in the last quarter. Regal Partners Ltd bought a new position in FOX during the second quarter valued at about $16,398,000. Finally, Bank of Montreal Can lifted its position in shares of FOX by 232.1% in the third quarter. Bank of Montreal Can now owns 449,296 shares of the company’s stock worth $17,451,000 after buying an additional 313,998 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Insider Activity at FOX

In related news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total transaction of $35,521,075.68. The disclosure for this sale can be found here. Insiders sold a total of 1,053,505 shares of company stock worth $47,705,970 in the last ninety days. 23.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FOX. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Barclays upgraded shares of FOX to a “hold” rating in a research note on Wednesday, October 9th.

FOX Stock Performance

Shares of NASDAQ FOX opened at $44.05 on Wednesday. Fox Co. has a 12 month low of $25.82 and a 12 month high of $44.89. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company has a market cap of $20.12 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.70 and a beta of 0.83. The business’s 50 day moving average is $40.62 and its two-hundred day moving average is $36.61.

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.