FOX (NASDAQ:FOX) Reaches New 1-Year High – Should You Buy?

Fox Co. (NASDAQ:FOX)’s share price reached a new 52-week high on Wednesday . The company traded as high as $47.19 and last traded at $47.07, with a volume of 130823 shares. The stock had previously closed at $46.47.

Wall Street Analysts Forecast Growth

FOX has been the topic of several recent analyst reports. Barclays upgraded shares of FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th.

FOX Stock Performance

The company has a market capitalization of $21.00 billion, a P/E ratio of 11.24, a PEG ratio of 1.58 and a beta of 0.83. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average is $42.12 and its two-hundred day moving average is $37.68.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 771,024 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total value of $35,521,075.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,053,505 shares of company stock worth $47,705,970. 23.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FOX

Several institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI lifted its position in FOX by 212.7% in 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 last quarter. State Street Corp raised its holdings in FOX by 7.5% during the 3rd quarter. State Street Corp now owns 9,639,382 shares of the company’s stock valued at $374,008,000 after buying an additional 671,511 shares during the last quarter. Independent Franchise Partners LLP boosted its position in FOX by 14.5% during the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock valued at $160,863,000 after buying an additional 636,247 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in FOX by 448.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,900 shares of the company’s stock worth $27,661,000 after acquiring an additional 582,900 shares during the last quarter. Finally, Regal Partners Ltd purchased a new position in shares of FOX in the second quarter valued at about $16,398,000. 26.41% 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.