FOX (NASDAQ:FOXA) Raised to “Buy” at StockNews.com

FOX (NASDAQ:FOXA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

FOXA has been the subject of a number of other reports. Wells Fargo & Company boosted their target price on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Macquarie restated a “neutral” rating and set a $43.00 target price on shares of FOX in a research report on Tuesday, November 5th. Bank of America increased their target price on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Cfra reissued a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Finally, Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Stock Performance

FOXA stock traded up $1.11 during trading on Tuesday, reaching $46.90. The company had a trading volume of 3,651,771 shares, compared to its average volume of 3,016,928. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. FOX has a twelve month low of $28.28 and a twelve month high of $46.97. The company has a market cap of $21.58 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.14 and a beta of 0.76. The firm has a 50-day simple moving average of $41.75 and a 200-day simple moving average of $37.80.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. As a group, sell-side analysts expect that FOX will post 3.94 earnings per share for the current year.

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 335,355 shares of company stock worth $14,244,865. Company insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Several institutional investors have recently made changes to their positions in FOXA. Bessemer Group Inc. lifted its stake in shares of FOX by 11.0% in the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after purchasing an additional 326 shares during the period. Crossmark Global Holdings Inc. grew its holdings in FOX by 1.7% in the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after purchasing an additional 385 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of FOX by 4.4% in the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock valued at $333,000 after buying an additional 406 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of FOX by 1.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after buying an additional 451 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in shares of FOX by 0.9% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock worth $1,695,000 after buying an additional 453 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.