Fox Co. (NASDAQ:FOX) Shares Sold by NINE MASTS CAPITAL Ltd

NINE MASTS CAPITAL Ltd reduced its position in Fox Co. (NASDAQ:FOX) by 77.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,927 shares of the company’s stock after selling 111,405 shares during the quarter. NINE MASTS CAPITAL Ltd’s holdings in FOX were worth $1,022,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of FOX in the fourth quarter valued at about $70,598,000. Assenagon Asset Management S.A. purchased a new position in FOX in the 2nd quarter worth approximately $65,709,000. Bank of Nova Scotia lifted its stake in FOX by 315.5% in the 4th quarter. Bank of Nova Scotia now owns 1,052,781 shares of the company’s stock worth $29,108,000 after purchasing an additional 799,383 shares in the last quarter. Regal Partners Ltd acquired a new position in shares of FOX during the 2nd quarter worth approximately $16,398,000. Finally, Goldman Sachs Group Inc. grew its position in shares of FOX by 93.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 945,930 shares of the company’s stock valued at $26,155,000 after purchasing an additional 456,546 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Trading Down 1.1 %

Shares of FOX stock opened at $36.43 on Thursday. Fox Co. has a twelve month low of $25.82 and a twelve month high of $38.51. The stock has a market cap of $17.00 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.95 and a beta of 0.81. The company’s 50-day moving average price is $35.81 and its 200-day moving average price is $31.70. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. During the same quarter in the prior year, the company posted $0.88 EPS. As a group, equities analysts predict that Fox Co. will post 3.59 earnings per share for the current year.

FOX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.27 per share. This is a boost from FOX’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 4th. This represents a $1.08 annualized dividend and a yield of 2.96%. FOX’s dividend payout ratio (DPR) is 16.93%.

Insider Buying and Selling at FOX

In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were 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 owns 249,424 shares in the company, valued at approximately $9,717,559.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. Company insiders own 19.21% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday.

About FOX

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.