SteelPeak Wealth LLC Invests $2.65 Million in Fox Co. (NASDAQ:FOXA)

SteelPeak Wealth LLC purchased a new stake in shares of Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 54,441 shares of the company’s stock, valued at approximately $2,645,000.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group increased its holdings in FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after buying an additional 466 shares in the last quarter. Quest Partners LLC purchased a new position in shares of FOX during the third quarter valued at approximately $51,000. Quarry LP bought a new position in FOX during the third quarter valued at approximately $70,000. Versant Capital Management Inc boosted its holdings in FOX by 3,551.1% in the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock worth $83,000 after purchasing an additional 1,669 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new stake in FOX in the 3rd quarter worth approximately $119,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Stock Down 0.2 %

Shares of FOXA stock opened at $50.04 on Wednesday. The company’s fifty day simple moving average is $47.99 and its two-hundred day simple moving average is $43.32. Fox Co. has a 52 week low of $28.28 and a 52 week high of $50.66. The stock has a market cap of $22.86 billion, a P/E ratio of 12.23, a PEG ratio of 1.19 and a beta of 0.75. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. Analysts predict that Fox Co. will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 469,352 shares of company stock worth $20,822,072. Insiders own 21.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FOXA shares. TD Cowen raised their price target on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and raised their target price for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Barclays upped their price target on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Loop Capital raised their price objective on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Citigroup boosted their target price on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.25.

FOX Profile

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.