FOX (NASDAQ:FOXA) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of FOX (NASDAQ:FOXA) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

A number of other equities research analysts also recently commented on FOXA. Macquarie restated a “neutral” rating and issued a $43.00 target price on shares of FOX in a research report on Tuesday, November 5th. Rosenblatt Securities boosted 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. Cfra reaffirmed a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. 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 research note on Tuesday, November 5th. Finally, Barclays increased their price objective on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.00.

FOX Trading Up 1.2 %

Shares of FOXA stock opened at $46.71 on Monday. FOX has a twelve month low of $28.28 and a twelve month high of $47.58. The stock has a market cap of $21.33 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.18 and a beta of 0.76. The company’s 50-day moving average price is $43.36 and its 200-day moving average price is $39.01. 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 (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 EPS. As a group, equities analysts predict that FOX will post 3.94 earnings per share for the current year.

Insider Activity at FOX

In related news, COO John Nallen sold 182,481 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock valued at $20,822,072 over the last 90 days. 21.77% of the stock is owned by corporate insiders.

Institutional Trading of FOX

Several institutional investors have recently modified their holdings of the stock. Jane Street Group LLC grew its position in shares of FOX by 25.2% in the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after buying an additional 28,072 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of FOX during the third quarter worth about $546,000. Swedbank AB acquired a new stake in shares of FOX during the first quarter worth about $4,466,000. Plato Investment Management Ltd purchased a new stake in shares of FOX in the 1st quarter valued at about $802,000. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of FOX in the 2nd quarter valued at about $5,219,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.