FOX (NASDAQ:FOX) Hits New 52-Week High – What’s Next?

Shares of Fox Co. (NASDAQ:FOX) hit a new 52-week high on Friday . The company traded as high as $44.51 and last traded at $44.49, with a volume of 13652 shares. The stock had previously closed at $44.12.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Barclays upgraded shares of FOX to a “hold” rating in a research note on Wednesday, October 9th.

FOX Stock Performance

The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average is $39.55 and its 200 day moving average is $35.76. The stock has a market capitalization of $20.28 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.66 and a beta of 0.81.

Insider Activity at FOX

In other news, 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 sale, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John Nallen sold 182,481 shares of the firm’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 transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $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. 23.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA grew its position in shares of FOX by 136.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after buying an additional 449 shares during the last quarter. Blue Trust Inc. lifted its holdings in FOX by 692.1% in the 2nd quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after acquiring an additional 1,232 shares during the last quarter. Friedenthal Financial bought a new stake in FOX during the second quarter worth approximately $51,000. Intact Investment Management Inc. acquired a new stake in shares of FOX during the third quarter worth $74,000. Finally, GAMMA Investing LLC increased its position in shares of FOX by 267.9% in the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock worth $113,000 after acquiring an additional 2,569 shares in the last quarter. 26.41% of the stock is currently owned by 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.