Fox (FOXA)

• Market cap: $21.9B
• 1 day: -0.66%
• 5 days: 0.08%
• 1 month: -2.18%
• 3 months: 12.76%
• 6 months: 28.17%
• Year to date: -2.02%
• 1 year: 56.66%
• 5 years: 22.01%
• 10 years: -4.78%
• Sector: Communication Services
• Industry: Television Broadcasting Stations

About: Fox operates in two segments: cable networks and television. Cable networks primarily includes Fox News, Fox Business, and several pay-TV sports stations. Television primarily includes the Fox broadcast network, 29 owned and operated local television stations, of which 18 are affiliated with the Fox network, and streaming platform Tubi, which is not subscription-based and is completely ad-supported. Fox effectively sold most of its entertainment assets to Disney in 2019, so it no longer creates entertainment content and relies heavily on live news and sports, with nearly all tied to the pay-TV bundle. The Murdoch family controls Fox.

Employees: 10,200

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

55% more call options, than puts

Call options by funds: $32.6M | Put options by funds: $21M

25% more first-time investments, than exits

New positions opened: 76 | Existing positions closed: 61

18% more capital invested

Capital invested by funds: $8.69B [Q2] → $10.2B (+$1.54B) [Q3]

2% more funds holding

Funds holding: 506 [Q2] → 515 (+9) [Q3]

0.83% less ownership

Funds ownership: 109.43% [Q2] → 108.6% (-0.83%) [Q3]

28% less repeat investments, than reductions

Existing positions increased: 154 | Existing positions reduced: 214

33% less funds holding in top 10

Funds holding in top 10: 3 [Q2] → 2 (-1) [Q3]

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $42 13% downside
• Avg. target: $50 5% upside
• High target: $59 23% upside

13 analyst ratings

• positive: 7 54%
• neutral: 5 38%
• negative: 1 8%

JP Morgan David Karnovsky 60% 1-year accuracy 15 / 25 met price target	2% upside $49	Neutral Maintained	14 Jan 2025
Wells Fargo Steven Cahall 59% 1-year accuracy 23 / 39 met price target	23% upside $59	Underweight Maintained	10 Jan 2025
Goldman Sachs Michael Ng 65% 1-year accuracy 15 / 23 met price target	19% upside $57	Buy Maintained	19 Dec 2024
Morgan Stanley Benjamin Swinburne 68% 1-year accuracy 13 / 19 met price target	2% downside $47	Equal-Weight Maintained	18 Dec 2024
Loop Capital Alan Gould 71% 1-year accuracy 15 / 21 met price target	15% upside $55	Buy Maintained	18 Dec 2024