FOX (NASDAQ:FOX) Reaches New 52-Week High – Should You Buy?

Shares of Fox Corporation (NASDAQ:FOX) reached a new 52-week high during trading on Friday . The company traded as high as $61.23 and last traded at $60.89, with a volume of 138545 shares. The stock had previously closed at $60.19.

Analyst Ratings Changes

A number of equities analysts have recently commented on FOX shares. Cfra restated a “buy” rating and issued a $73.00 price objective on shares of FOX in a report on Monday, November 3rd. Weiss Ratings reissued a “buy (b+)” rating on shares of FOX in a research report on Wednesday, November 26th. Fox Advisors set a $97.00 price target on FOX in a report on Tuesday, October 28th. UBS Group reissued a “buy” rating on shares of FOX in a report on Friday, October 31st. Finally, Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, FOX currently has a consensus rating of “Buy” and a consensus target price of $81.67.

FOX Trading Up 1.3%

The firm has a fifty day simple moving average of $56.38 and a two-hundred day simple moving average of $53.49. The firm has a market cap of $27.06 billion, a PE ratio of 13.70, a PEG ratio of 1.31 and a beta of 0.56. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54.

FOX (NASDAQ:FOX) last announced its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.45. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%. Equities analysts forecast that Fox Corporation will post 4.25 EPS for the current year.

Insider Transactions at FOX

In other FOX news, Director Paul D. Ryan sold 17,767 shares of FOX stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $64.36, for a total value of $1,143,484.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 168,756 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $65.97, for a total value of $11,132,833.32. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 424,920 shares of company stock worth $27,411,254. Corporate insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of FOX by 8.4% in the third quarter. EverSource Wealth Advisors LLC now owns 2,493 shares of the company’s stock worth $143,000 after buying an additional 193 shares in the last quarter. Federated Hermes Inc. lifted its stake in FOX by 66.2% in the 1st quarter. Federated Hermes Inc. now owns 580 shares of the company’s stock worth $31,000 after purchasing an additional 231 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of FOX by 0.8% during the first quarter. PNC Financial Services Group Inc. now owns 34,898 shares of the company’s stock valued at $1,839,000 after purchasing an additional 266 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of FOX by 1.1% in the second quarter. Baird Financial Group Inc. now owns 31,707 shares of the company’s stock worth $1,637,000 after buying an additional 343 shares in the last quarter. Finally, Covestor Ltd grew its holdings in FOX by 37.0% during the 1st quarter. Covestor Ltd now owns 1,402 shares of the company’s stock valued at $74,000 after buying an additional 379 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.

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.