Hi Line Capital Management LLC purchased a new stake in Fox Corp (NASDAQ:FOXA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 144,020 shares of the company’s stock, valued at approximately $4,542,000. FOX accounts for approximately 2.0% of Hi Line Capital Management LLC’s holdings, making the stock its 22nd largest holding.
Several other hedge funds also recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in FOX during the third quarter valued at approximately $25,000. Macquarie Group Ltd. acquired a new position in FOX during the second quarter valued at approximately $29,000. Huntington National Bank acquired a new position in FOX during the third quarter valued at approximately $30,000. Catalyst Capital Advisors LLC acquired a new position in FOX during the third quarter valued at approximately $32,000. Finally, Whittier Trust Co. acquired a new position in FOX during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 56.28% of the company’s stock.
FOXA has been the subject of several research analyst reports. Atlantic Securities downgraded shares of FOX from an “overweight” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Tuesday, September 10th. Zacks Investment Research upgraded shares of FOX from a “sell” rating to a “hold” rating in a report on Tuesday, August 27th. Evercore ISI reiterated a “buy” rating and set a $45.00 price target on shares of FOX in a report on Thursday, August 8th. Macquarie downgraded shares of FOX from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $35.00 to $30.00 in a report on Monday, September 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of FOX in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. FOX presently has a consensus rating of “Hold” and a consensus target price of $41.89.
FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.14. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.60 billion. FOX had a return on equity of 14.30% and a net margin of 12.94%. FOX’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, research analysts predict that Fox Corp will post 2.37 earnings per share for the current fiscal year.
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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