FOX (NASDAQ:FOXA) Cut to “Neutral” at Moffett Nathanson

FOX (NASDAQ:FOXA) was downgraded by analysts at Moffett Nathanson from a “buy” rating to a “neutral” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. They currently have a $52.00 target price on the stock, up from their prior target price of $51.00. Moffett Nathanson’s target price points to a potential upside of 8.33% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group boosted their price target on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup boosted their target price on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company increased their price target on shares of FOX from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Friday, January 10th. Barclays upped their price objective on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI raised FOX to a “hold” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, FOX currently has an average rating of “Hold” and an average target price of $48.25.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $48.00 on Tuesday. The firm’s 50 day moving average price is $47.76 and its 200-day moving average price is $42.84. The stock has a market capitalization of $21.92 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.19 and a beta of 0.75. 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 has a twelve month low of $28.28 and a twelve month high of $50.63.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. Equities research analysts expect that FOX will post 4.09 EPS for the current year.

Insider Activity at FOX

In other FOX news, COO John Nallen sold 182,481 shares of FOX stock in a transaction dated 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 sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock valued at $20,822,072 in the last ninety days. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of large investors have recently bought and sold shares of the company. Brooklyn Investment Group boosted its holdings in shares of FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after acquiring an additional 466 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of FOX during the 3rd quarter worth approximately $51,000. Quarry LP purchased a new position in shares of FOX during the 3rd quarter valued at approximately $70,000. Versant Capital Management Inc grew its position in FOX by 3,551.1% during the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after buying an additional 1,669 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of FOX during the third quarter valued at approximately $119,000. Hedge funds and other institutional investors 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.