FOX (NASDAQ:FOX) Cut to “Sell” at BidaskClub

FOX (NASDAQ:FOX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada reiterated a “sell” rating and set a $41.00 target price on shares of FOX in a research note on Monday, March 25th. They noted that the move was a valuation call.

Shares of NASDAQ FOX opened at $33.83 on Wednesday. FOX has a twelve month low of $33.32 and a twelve month high of $41.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.60 and a quick ratio of 3.77.



FOX (NASDAQ:FOX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.10. The firm had revenue of $2.75 billion during the quarter. On average, analysts anticipate that FOX will post 2.6 EPS for the current year.

In other news, insider Lachlan K. Murdoch sold 316,317 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $51.20, for a total transaction of $16,195,430.40. Following the completion of the sale, the insider now owns 618,374 shares of the company’s stock, valued at approximately $31,660,748.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 600,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $34.04, for a total transaction of $20,424,000.00. The disclosure for this sale can be found here.

Hedge funds have recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in shares of FOX during the 4th quarter valued at $25,000. Lindbrook Capital LLC bought a new stake in shares of FOX during the 4th quarter valued at $32,000. Global Retirement Partners LLC bought a new stake in shares of FOX during the 4th quarter valued at $32,000. Laurel Wealth Advisors LLC bought a new stake in shares of FOX during the 4th quarter valued at $39,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of FOX during the 4th quarter valued at $55,000. 22.14% of the stock is owned by hedge funds and other institutional investors.

About FOX

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.

Further Reading: Quiet Period

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