Rhumbline Advisers Increases Stock Position in Fox Corp (NASDAQ:FOX)

25 May 2020, 13:18 by Sarita Garza

Rhumbline Advisers boosted its stake in shares of Fox Corp (NASDAQ:FOX) by 9.8% in the first quarter, HoldingsChannel.com reports. The fund owned 264,628 shares of the company’s stock after purchasing an additional 23,633 shares during the period. Rhumbline Advisers’ holdings in FOX were worth $6,055,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in FOX during the fourth quarter worth $6,370,000. TRUE Private Wealth Advisors acquired a new position in FOX during the fourth quarter worth $26,000. Advisory Services Network LLC raised its position in FOX by 466.0% during the fourth quarter. Advisory Services Network LLC now owns 849 shares of the company’s stock worth $31,000 after acquiring an additional 699 shares during the period. NumerixS Investment Technologies Inc acquired a new position in FOX during the fourth quarter worth $44,000. Finally, Point72 Hong Kong Ltd acquired a new position in FOX during the fourth quarter worth $53,000. Institutional investors own 23.28% of the company’s stock.

Shares of FOX stock opened at $27.37 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.79 and a quick ratio of 3.24. The firm has a market cap of $16.52 billion, a PE ratio of 11.04 and a beta of 1.51. The company has a 50-day moving average of $25.13 and a two-hundred day moving average of $31.41. Fox Corp has a 1-year low of $19.13 and a 1-year high of $38.84.

FOX (NASDAQ:FOX) last announced its earnings results on Wednesday, May 6th. The company reported $0.93 earnings per share for the quarter. The company had revenue of $3.44 billion during the quarter. FOX had a net margin of 10.74% and a return on equity of 15.13%.

FOX has been the subject of a number of recent research reports. BidaskClub upgraded shares of FOX from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 30th. Royal Bank of Canada initiated coverage on shares of FOX in a research report on Monday, April 27th. They issued a “buy” rating and a $31.00 target price for the company. Guggenheim upgraded shares of FOX from a “neutral” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Thursday, April 2nd. Societe Generale upgraded shares of FOX to a “hold” rating and set a $24.00 target price for the company in a research report on Wednesday, April 8th. Finally, Citigroup began coverage on shares of FOX in a research report on Monday, April 13th. They issued a “neutral” rating and a $26.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $32.38.

FOX Company Profile

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.