Pacer Advisors Inc. Has $803,000 Position in Fox Corporation (NASDAQ:FOXA)

Pacer Advisors Inc. reduced its position in shares of Fox Corporation (NASDAQ:FOXA) by 99.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 14,189 shares of the company’s stock after selling 8,326,573 shares during the quarter. Pacer Advisors Inc.’s holdings in FOX were worth $803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FOXA. Greenleaf Trust increased its stake in FOX by 3.1% during the 1st quarter. Greenleaf Trust now owns 6,778 shares of the company’s stock worth $384,000 after acquiring an additional 205 shares during the period. DnB Asset Management AS increased its stake in shares of FOX by 0.6% in the 4th quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock valued at $2,141,000 after purchasing an additional 245 shares during the last quarter. Allworth Financial LP increased its stake in shares of FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company’s stock valued at $45,000 after purchasing an additional 280 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of FOX by 0.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 49,869 shares of the company’s stock valued at $2,823,000 after purchasing an additional 293 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of FOX by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 25,521 shares of the company’s stock valued at $1,444,000 after purchasing an additional 305 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FOX

In other news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares of the company’s stock, valued at approximately $7,405,941.90. This trade represents a 22.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 21.77% of the company’s stock.

FOX Stock Down 0.8%

Shares of FOXA opened at $55.46 on Thursday. The stock’s 50-day moving average price is $55.41 and its two-hundred day moving average price is $53.37. Fox Corporation has a 12 month low of $36.09 and a 12 month high of $58.74. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $24.94 billion, a PE ratio of 13.80, a PEG ratio of 1.25 and a beta of 0.51.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.17. FOX had a return on equity of 17.99% and a net margin of 11.58%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the company posted $1.40 EPS. The business’s quarterly revenue was up 26.8% on a year-over-year basis. On average, analysts anticipate that Fox Corporation will post 4.38 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FOXA. Wells Fargo & Company lifted their price target on FOX from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Barclays reiterated an “outperform” rating on shares of FOX in a research note on Tuesday, May 13th. Cfra Research downgraded FOX from a “moderate buy” rating to a “hold” rating in a report on Friday, June 27th. Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a report on Wednesday, July 9th. Finally, Guggenheim reissued a “buy” rating and set a $62.00 price objective (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, FOX has a consensus rating of “Hold” and a consensus price target of $53.53.

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.