Insider Selling: FOX (NASDAQ:FOX) Chairman Sells 168,756 Shares of Stock

Fox Corporation (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 168,756 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $65.97, for a total transaction of $11,132,833.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

FOX Stock Performance

Shares of NASDAQ FOX traded up $0.14 during midday trading on Friday, hitting $59.48. The company’s stock had a trading volume of 2,228,606 shares, compared to its average volume of 1,406,255. The firm has a market capitalization of $26.50 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 1.29 and a beta of 0.57. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $54.53 and a 200 day moving average price of $51.85. Fox Corporation has a one year low of $41.14 and a one year high of $59.99.

FOX (NASDAQ:FOX) last posted 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 for the quarter, compared to the consensus estimate of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%. On average, research analysts forecast that Fox Corporation will post 4.25 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of FOX

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC bought a new stake in shares of FOX during the 3rd quarter worth $26,000. Federated Hermes Inc. raised its position in FOX by 66.2% during the first quarter. Federated Hermes Inc. now owns 580 shares of the company’s stock valued at $31,000 after purchasing an additional 231 shares in the last quarter. Quent Capital LLC bought a new stake in FOX during the third quarter worth about $32,000. IFP Advisors Inc boosted its holdings in shares of FOX by 457.6% in the 1st quarter. IFP Advisors Inc now owns 697 shares of the company’s stock worth $37,000 after purchasing an additional 572 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of FOX by 183.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 801 shares of the company’s stock worth $42,000 after purchasing an additional 518 shares in the last quarter. Hedge funds and other institutional investors own 26.41% 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.