Intact Investment Management Inc. Takes $74,000 Position in Fox Co. (NASDAQ:FOX)

Intact Investment Management Inc. acquired a new stake in Fox Co. (NASDAQ:FOX) in the 3rd quarter, Holdings Channel reports. The firm acquired 1,900 shares of the company’s stock, valued at approximately $74,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FOX. Royal London Asset Management Ltd. lifted its holdings in shares of FOX by 0.7% in the second quarter. Royal London Asset Management Ltd. now owns 52,054 shares of the company’s stock valued at $1,667,000 after purchasing an additional 367 shares in the last quarter. MBB Public Markets I LLC grew its holdings in FOX by 4.4% during the 2nd quarter. MBB Public Markets I LLC now owns 10,516 shares of the company’s stock valued at $337,000 after buying an additional 440 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in FOX by 4.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,742 shares of the company’s stock worth $417,000 after buying an additional 457 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of FOX by 1.1% in the second quarter. State of Michigan Retirement System now owns 45,531 shares of the company’s stock worth $1,458,000 after acquiring an additional 500 shares during the last quarter. Finally, iA Global Asset Management Inc. lifted its position in shares of FOX by 9.5% in the first quarter. iA Global Asset Management Inc. now owns 8,386 shares of the company’s stock valued at $240,000 after acquiring an additional 731 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FOX shares. Seaport Res Ptn downgraded shares of 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 report on Wednesday, October 9th.

Insider Transactions at FOX

In other news, CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO John Nallen sold 52,874 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 23.06% of the company’s stock.

FOX Trading Up 1.8 %

Shares of FOX stock opened at $40.66 on Wednesday. The firm has a market cap of $18.71 billion, a PE ratio of 9.94, a P/E/G ratio of 2.03 and a beta of 0.81. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. Fox Co. has a fifty-two week low of $25.82 and a fifty-two week high of $42.13. The business’s fifty day moving average is $38.25 and its two-hundred day moving average is $34.68.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned $0.88 EPS. Analysts anticipate that Fox Co. will post 3.59 earnings per share for the current year.

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.