FOX (NASDAQ:FOXA) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of FOX (NASDAQ:FOXA) from a hold rating to a buy rating in a report published on Tuesday.

FOXA has been the topic of a number of other reports. Loop Capital increased their price target on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. UBS Group increased their target price on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Cfra reissued a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Finally, Macquarie restated a “neutral” rating and issued a $43.00 price objective on shares of FOX in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.00.

FOX Price Performance

FOX stock traded down $0.08 during mid-day trading on Tuesday, hitting $47.40. 1,720,320 shares of the company were exchanged, compared to its average volume of 3,012,315. The company has a market capitalization of $21.81 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The business has a fifty day moving average of $42.12 and a 200 day moving average of $38.04. FOX has a 1-year low of $28.28 and a 1-year high of $47.58. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

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

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’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 transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of FOX by 31.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock valued at $15,523,000 after buying an additional 117,458 shares during the period. Jane Street Group LLC increased its holdings in shares of FOX by 25.2% in the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after acquiring an additional 28,072 shares in the last quarter. UniSuper Management Pty Ltd raised its position in shares of FOX by 565.6% during the first quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock worth $745,000 after purchasing an additional 20,250 shares during the period. CreativeOne Wealth LLC bought a new position in shares of FOX during the 1st quarter valued at about $609,000. Finally, SG Americas Securities LLC grew its position in shares of FOX by 89.6% in the 1st quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock valued at $1,575,000 after purchasing an additional 23,791 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Company Profile

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.