Fox Co. (NASDAQ:FOXA) Chairman Sells $4,205,000.00 in Stock

Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

FOX Trading Down 1.8 %

FOXA stock opened at $44.67 on Friday. The company has a market capitalization of $20.56 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. Fox Co. has a one year low of $28.28 and a one year high of $45.82. The company’s 50 day moving average price is $41.53 and its two-hundred day moving average price is $37.48.

FOX (NASDAQ:FOXA) last issued 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 net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the company earned $1.09 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Fox Co. will post 3.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FOX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in FOX by 70.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,595 shares of the company’s stock worth $2,378,000 after purchasing an additional 30,866 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of FOX by 66.1% in the first quarter. Janney Montgomery Scott LLC now owns 13,396 shares of the company’s stock worth $419,000 after buying an additional 5,331 shares during the period. Daiwa Securities Group Inc. raised its holdings in FOX by 2.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 28,254 shares of the company’s stock valued at $884,000 after buying an additional 784 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in FOX during the 1st quarter valued at $329,000. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in FOX by 16.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 33,659 shares of the company’s stock worth $1,053,000 after acquiring an additional 4,776 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on FOXA. JPMorgan Chase & Co. boosted their target price on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday. Rosenblatt Securities upped 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. Guggenheim increased their target price on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, UBS Group increased their target price on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.00.

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.