New Jersey Better Educational Savings Trust bought a new position in shares of Fox Corp (NASDAQ:FOX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,000 shares of the company’s stock, valued at approximately $284,000.
Several other hedge funds have also modified their holdings of FOX. Cacti Asset Management LLC purchased a new position in FOX in the third quarter valued at about $31,092,000. F&V Capital Management LLC purchased a new position in FOX in the third quarter valued at about $2,650,000. Inlet Private Wealth LLC purchased a new position in FOX in the third quarter valued at about $2,578,000. Envestnet Asset Management Inc. purchased a new position in FOX in the third quarter valued at about $1,972,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in FOX in the third quarter valued at about $1,310,000. 23.58% of the stock is owned by institutional investors and hedge funds.
NASDAQ:FOX traded up $0.18 during mid-day trading on Friday, reaching $34.43. The stock had a trading volume of 1,551,500 shares, compared to its average volume of 1,757,195. Fox Corp has a 1-year low of $29.61 and a 1-year high of $41.73. The stock’s 50 day simple moving average is $31.56 and its two-hundred day simple moving average is $34.53. The company has a quick ratio of 3.12, a current ratio of 3.78 and a debt-to-equity ratio of 0.68.
In other news, Director Roland A. Hernandez acquired 3,000 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $34.91 per share, for a total transaction of $104,730.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch acquired 500,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were purchased at an average price of $32.06 per share, for a total transaction of $16,030,000.00. Following the completion of the transaction, the chairman now owns 805,714 shares in the company, valued at approximately $25,831,190.84. The disclosure for this purchase can be found here. 17.47% of the stock is currently owned by corporate insiders.
A number of analysts have recently issued reports on FOX shares. Zacks Investment Research lowered FOX from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Wells Fargo & Co reaffirmed an “underperform” rating and set a $32.00 target price (up from $30.00) on shares of FOX in a research report on Thursday. Finally, BidaskClub upgraded FOX from a “sell” rating to a “hold” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. FOX has an average rating of “Hold” and an average target price of $40.00.
Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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