Gabelli Funds LLC Decreases Stock Position in Fox Co. (NASDAQ:FOX)

Gabelli Funds LLC decreased its stake in shares of Fox Co. (NASDAQ:FOX) by 5.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 417,500 shares of the company’s stock after selling 25,064 shares during the quarter. Gabelli Funds LLC’s holdings in FOX were worth $11,949,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FOX. Allworth Financial LP lifted its position in FOX by 176.5% during the fourth quarter. Allworth Financial LP now owns 1,001 shares of the company’s stock worth $28,000 after buying an additional 639 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in FOX by 286.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,160 shares of the company’s stock worth $32,000 after acquiring an additional 860 shares during the last quarter. GAMMA Investing LLC acquired a new stake in FOX during the fourth quarter worth $54,000. CWM LLC increased its stake in FOX by 27.9% during the fourth quarter. CWM LLC now owns 2,486 shares of the company’s stock worth $69,000 after acquiring an additional 543 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in FOX during the fourth quarter worth $74,000. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analyst Ratings Changes

Separately, Seaport Res Ptn raised FOX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 9th.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX 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 completion of the sale, the chairman now directly owns 1,408,862 shares of the company’s stock, valued at $43,519,747.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction 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 completion of the transaction, 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 is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total value of $407,006.64. Following the completion of the transaction, the chairman now owns 1,408,862 shares of the company’s stock, valued at $43,519,747.18. The disclosure for this sale can be found here. Insiders own 19.21% of the company’s stock.

FOX Trading Up 1.3 %

FOX stock traded up $0.46 during midday trading on Friday, hitting $34.92. 626,917 shares of the company’s stock were exchanged, compared to its average volume of 723,299. Fox Co. has a 1-year low of $25.82 and a 1-year high of $35.36. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67. The business has a 50-day simple moving average of $32.28 and a two-hundred day simple moving average of $29.77. The stock has a market capitalization of $16.30 billion, a PE ratio of 10.95, a P/E/G ratio of 5.66 and a beta of 0.82.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $1.09 earnings per share for the quarter. FOX had a return on equity of 15.90% and a net margin of 11.19%. The business had revenue of $3.45 billion during the quarter. On average, sell-side analysts predict that Fox Co. will post 3.32 EPS 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.