QRG Capital Management Inc. Sells 107,267 Shares of Fox Co. (NASDAQ:FOXA)

QRG Capital Management Inc. reduced its stake in shares of Fox Co. (NASDAQ:FOXA) by 39.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,424 shares of the company’s stock after selling 107,267 shares during the quarter. QRG Capital Management Inc.’s holdings in FOX were worth $5,142,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its position in shares of FOX by 862.2% during the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after buying an additional 845 shares during the period. UMB Bank n.a. boosted its position in shares of FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after buying an additional 809 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of FOX during the fourth quarter valued at approximately $43,000. GAMMA Investing LLC purchased a new position in shares of FOX during the fourth quarter valued at approximately $53,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of FOX during the first quarter valued at approximately $66,000. 52.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on FOXA. Rosenblatt Securities restated a “neutral” rating and set a $34.00 target price on shares of FOX in a research report on Monday, April 15th. Macquarie increased their price objective on FOX from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Barclays increased their price objective on FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. Seaport Res Ptn raised FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $42.00 price target on shares of FOX in a research note on Monday, July 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.38.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the sale, the chief financial officer now directly owns 110,568 shares in the company, valued at $3,788,059.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other FOX news, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the sale, the chief financial officer now directly owns 110,568 shares in the company, valued at $3,788,059.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $30.89, for a total value of $407,006.64. Following the sale, the chairman now owns 1,408,862 shares in the company, valued at $43,519,747.18. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

FOX Stock Performance

NASDAQ:FOXA traded up $0.49 during mid-day trading on Wednesday, reaching $37.22. 289,129 shares of the stock were exchanged, compared to its average volume of 3,104,581. The company has a 50 day simple moving average of $34.05 and a 200-day simple moving average of $31.84. The stock has a market capitalization of $17.37 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.23 and a beta of 0.77. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. Fox Co. has a 1 year low of $28.28 and a 1 year high of $37.22.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.11. FOX had a return on equity of 15.90% and a net margin of 11.19%. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Analysts anticipate that Fox Co. will post 3.35 earnings per share for the current fiscal year.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.