IFP Advisors Inc has significantly amplified its stake in Fox Corporation (NASDAQ:FOX), marking a notable trend among institutional investors to bolster their positions in the media conglomerate. This strategic move highlights the dynamic shifts within major financial portfolios, as professional firms re-evaluate and reallocate their capital in key market players.

Specifically, IFP Advisors Inc demonstrated aggressive growth in its FOX holdings during the first quarter, increasing its ownership by an impressive 457.6%. According to its recent 13F filing with the SEC, the advisory firm acquired an additional 572 shares, bringing its total to 697 shares. As of its latest disclosure, these holdings in Fox Corporation were valued at approximately $37,000, underscoring a calculated increase in their market exposure.

Beyond IFP Advisors, other significant institutional investors and hedge funds have also recalibrated their investments in Fox Corporation. Independent Franchise Partners LLP, a major player, substantially lifted its position in FOX by 15.4% during the fourth quarter. This acquisition of an additional 759,874 shares expanded their total ownership to 5,706,386 shares, with a reported value exceeding $261 million, indicating strong confidence in the company’s long-term prospects.

Further demonstrating this institutional interest, GAMMA Investing LLC recorded an astonishing 7,082.8% surge in its FOX holdings during the first quarter. This remarkable increase resulted from purchasing 466,330 new shares, leading to a total of 472,914 shares valued at nearly $25 million. Such a dramatic percentage increase points to a targeted strategic investment in the media giant.

Similarly, Barclays PLC enhanced its position in FOX by 60.9% in the fourth quarter, accumulating an additional 329,591 shares to reach a total of 870,380 shares, valued at over $39 million. Concurrently, UBS AM, a distinct business unit of UBS Asset Management Americas LLC, boosted its FOX holdings by 19.1% during the same period, acquiring 227,589 more shares to hold 1,417,953 shares, worth approximately $64.8 million.

Arrowstreet Capital Limited Partnership also made a substantial move, lifting its position in FOX by 94.3% during the fourth quarter. Their acquisition of an additional 177,331 shares brought their total to 365,328 shares, with a valuation of roughly $16.7 million. Cumulatively, institutional investors and hedge funds now command a significant 26.41% of Fox Corporation’s total stock, reflecting widespread professional interest.

In other pertinent developments concerning FOX, a notable insider transaction occurred with the CFO’s sale of 5,607 shares of the company’s stock on June 4th. This transaction was executed at an average price of $55.37 per share, totaling over $310,000. Following this sale, the chief financial officer retains a direct ownership of 133,923 shares, valued at approximately $7.4 million, representing a 4.02% decrease in their direct holdings.

Fox Corporation recently unveiled its quarterly earnings data on May 12th, reporting robust financial performance. The company announced earnings per share of $1.10 for the quarter, surpassing the consensus analyst estimate of $0.96 by $0.14. Furthermore, the firm’s revenue reached $4.37 billion, exceeding analysts’ expectations of $4.19 billion, demonstrating strong operational results. FOX also reported a solid return on equity of 17.99% and a net margin of 11.58%.

As a prominent news, sports, and entertainment entity in the United States, Fox Corporation operates through distinct segments including Cable Network Programming, Television, Credible, and The FOX Studio Lot. Its Cable Network Programming segment is particularly vital, focusing on the production and licensing of news and sports content for various distribution platforms. Analysts project Fox Corporation to post 4.25 earnings per share for the current fiscal year, signaling continued positive outlook for the company’s financial trajectory.