Steven Tomsic Sells 138,397 Shares of FOX (NASDAQ:FOX) Stock

Fox Corporation (NASDAQ:FOX) CFO Steven Tomsic sold 138,397 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the sale, the chief financial officer directly owned 180,556 shares in the company, valued at approximately $12,014,196.24. The trade was a 43.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

FOX Stock Up 1.0%

FOX stock traded up $0.57 during midday trading on Monday, hitting $60.05. The company’s stock had a trading volume of 1,448,355 shares, compared to its average volume of 1,406,445. The firm has a 50-day simple moving average of $54.74 and a 200-day simple moving average of $52.16. The company has a quick ratio of 3.03, a current ratio of 3.24 and a debt-to-equity ratio of 0.54. Fox Corporation has a 52-week low of $41.58 and a 52-week high of $60.54. The firm has a market capitalization of $26.66 billion, a P/E ratio of 13.49, a PEG ratio of 1.32 and a beta of 0.57.

FOX (NASDAQ:FOX) last released its quarterly earnings data 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 business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. FOX had a net margin of 12.35% and a return on equity of 18.61%. As a group, equities analysts forecast that Fox Corporation will post 4.25 EPS for the current year.

Institutional Trading of FOX

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

Wall Street Analysts Forecast Growth

FOX has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of FOX in a report on Friday, October 31st. Fox Advisors set a $97.00 price objective on shares of FOX in a research report on Tuesday, October 28th. UBS Group reaffirmed a “buy” rating on shares of FOX in a research report on Friday, October 31st. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, Cfra reaffirmed a “buy” rating and set a $73.00 price objective on shares of FOX in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $81.67.

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.