FOX (NASDAQ:FOX) Hits New 52-Week High – Should You Buy?

Fox Co. (NASDAQ:FOX) reached a new 52-week high during trading on Friday . The company traded as high as $44.79 and last traded at $44.76, with a volume of 168714 shares. The stock had previously closed at $44.36.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FOX. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Barclays upgraded FOX to a “hold” rating in a research note on Wednesday, October 9th.

FOX Stock Performance

The company has a 50-day moving average price of $40.24 and a two-hundred day moving average price of $36.24. The stock has a market capitalization of $20.43 billion, a P/E ratio of 10.85, a PEG ratio of 1.70 and a beta of 0.81. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,053,505 shares of company stock worth $47,705,970 over the last ninety days. Company insiders own 23.06% of the company’s stock.

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently bought and sold shares of FOX. Assenagon Asset Management S.A. purchased a new stake in shares of FOX during the second quarter valued at approximately $65,709,000. National Bank of Canada FI boosted its stake in shares of FOX by 212.7% during the third quarter. National Bank of Canada FI now owns 1,437,637 shares of the company’s stock valued at $55,780,000 after purchasing an additional 977,907 shares during the period. State Street Corp boosted its stake in shares of FOX by 7.5% during the third quarter. State Street Corp now owns 9,639,382 shares of the company’s stock valued at $374,008,000 after purchasing an additional 671,511 shares during the period. Independent Franchise Partners LLP boosted its stake in shares of FOX by 14.5% during the second quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock valued at $160,863,000 after purchasing an additional 636,247 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of FOX by 448.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,900 shares of the company’s stock valued at $27,661,000 after purchasing an additional 582,900 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

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.