FOX (NASDAQ:FOXA) Chairman Sells $5,926,000.00 in Stock

Fox Corporation (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $59.26, for a total transaction of $5,926,000.00. Following the completion of the transaction, the chairman directly owned 1,100,862 shares of the company’s stock, valued at approximately $65,237,082.12. This represents a 8.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Keith Rupert Murdoch also recently made the following trade(s):

• On Friday, November 7th, Keith Rupert Murdoch sold 168,756 shares of FOX stock. The shares were sold at an average price of $65.97, for a total transaction of $11,132,833.32.

FOX Stock Performance

Shares of FOXA traded up $0.43 during mid-day trading on Tuesday, reaching $64.73. The company had a trading volume of 2,374,510 shares, compared to its average volume of 3,834,523. 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 $45.78 and a 52-week high of $67.22. The stock has a 50 day moving average of $61.87 and a two-hundred day moving average of $58.29. The stock has a market capitalization of $28.74 billion, a P/E ratio of 14.55, a PEG ratio of 1.47 and a beta of 0.52.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.41. FOX had a return on equity of 18.61% and a net margin of 12.35%.The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the firm posted $1.45 EPS. FOX’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that Fox Corporation will post 4.38 earnings per share for the current year.

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently bought and sold shares of FOXA. FWL Investment Management LLC acquired a new stake in shares of FOX in the third quarter worth approximately $26,000. Hemington Wealth Management increased its holdings in FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company’s stock valued at $29,000 after purchasing an additional 359 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of FOX in the second quarter valued at about $35,000. Zions Bancorporation National Association UT purchased a new stake in shares of FOX during the first quarter valued at approximately $40,000. Finally, TCTC Holdings LLC lifted its stake in shares of FOX by 112.5% in the first quarter. TCTC Holdings LLC now owns 797 shares of the company’s stock worth $45,000 after acquiring an additional 422 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of FOX from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Fox Advisors set a $97.00 price objective on shares of FOX in a research note on Tuesday, October 28th. Arete Research raised FOX to a “strong-buy” rating in a research note on Tuesday, October 28th. Wall Street Zen downgraded shares of FOX from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Cowen reissued a “hold” rating on shares of FOX in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.50.

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.