FOX (NASDAQ:FOXA) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of FOX (NASDAQ:FOXA) from a buy rating to a hold rating in a report issued on Monday morning.

A number of other equities research analysts have also weighed in on the company. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Loop Capital boosted their target price on shares of FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. TD Cowen raised their price target on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Rosenblatt Securities boosted their price objective on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Barclays raised their target price on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.00.

FOX Trading Up 1.2 %

NASDAQ FOXA opened at $46.71 on Monday. The firm has a market cap of $21.33 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76. FOX has a 52 week low of $28.28 and a 52 week 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. The company has a 50 day moving average price of $43.36 and a 200 day moving average price of $39.01.

FOX (NASDAQ:FOXA) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 earnings per share. As a group, sell-side analysts forecast that FOX will post 3.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction on 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 469,352 shares of company stock worth $20,822,072. Company insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. lifted its position in shares of FOX by 11.0% in the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after acquiring an additional 326 shares in the last quarter. Jane Street Group LLC lifted its holdings in FOX by 25.2% in the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after purchasing an additional 28,072 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in FOX by 45.0% during the 1st quarter. iA Global Asset Management Inc. now owns 32,806 shares of the company’s stock worth $1,026,000 after purchasing an additional 10,179 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of FOX during the first quarter worth $802,000. Finally, Swedbank AB acquired a new stake in shares of FOX in the first quarter valued at about $4,466,000. Institutional investors and hedge funds own 52.52% 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.