FOX (NASDAQ:FOXA) Downgraded by Moffett Nathanson to “Neutral”

Moffett Nathanson downgraded shares of FOX (NASDAQ:FOXA) from a buy rating to a neutral rating in a research report report published on Tuesday, Marketbeat.com reports. The brokerage currently has $52.00 price objective on the stock, up from their prior price objective of $51.00.

A number of other research analysts also recently weighed in on the company. Citigroup lifted their price target on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their target price on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Loop Capital boosted their price objective on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. StockNews.com downgraded shares of FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, TD Cowen boosted their price target on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $48.25.

FOX Trading Down 0.2 %

Shares of FOXA opened at $47.90 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. FOX has a 1-year low of $28.28 and a 1-year high of $50.63. The stock has a market capitalization of $21.88 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.19 and a beta of 0.75. The business’s 50-day moving average price is $47.76 and its 200 day moving average price is $42.84.

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

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction that occurred 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 directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 469,352 shares of company stock valued at $20,822,072. Company insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of institutional investors and hedge funds have recently bought and sold shares of FOXA. Pacer Advisors Inc. grew its position in FOX by 44,205.3% in the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock worth $83,208,000 after buying an additional 492,467 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in FOX by 228.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after acquiring an additional 964,737 shares during the period. JPMorgan Chase & Co. raised its holdings in FOX by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after acquiring an additional 110,753 shares in the last quarter. Finally, AXA S.A. lifted its position in shares of FOX by 294.2% in the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after acquiring an additional 663,089 shares during the period. 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.