FOX (NASDAQ:FOX) Hits New 12-Month High – Here’s What Happened

by · The Cerbat Gem

Fox Corporation (NASDAQ:FOX – Get Free Report) shares reached a new 52-week high on Friday . The company traded as high as $61.23 and last traded at $60.89, with a volume of 138545 shares traded. The stock had previously closed at $60.19.

Wall Street Analyst Weigh In

FOX has been the topic of a number of analyst reports. Cfra reiterated a “buy” rating and set a $73.00 price objective on shares of FOX in a research report on Monday, November 3rd. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of FOX in a research note on Wednesday, November 26th. UBS Group reaffirmed a “buy” rating on shares of FOX in a research report on Friday, October 31st. Finally, Fox Advisors set a $97.00 price objective on FOX in a research report on Tuesday, October 28th. One 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 data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $81.67.

View Our Latest Research Report on FOX

FOX Stock Up 1.3%

The firm has a 50-day moving average price of $56.38 and a two-hundred day moving average price of $53.49. The firm has a market cap of $27.06 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 1.31 and a beta of 0.56. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24.

FOX (NASDAQ:FOX – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.51 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 analyst estimates of $3.57 billion. FOX had a net margin of 12.35% and a return on equity of 18.61%. On average, sell-side analysts forecast that Fox Corporation will post 4.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 168,756 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $65.97, for a total value of $11,132,833.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Tomsic sold 138,397 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $66.54, for a total value of $9,208,936.38. Following the completion of the transaction, the chief financial officer owned 180,556 shares of the company’s stock, valued at approximately $12,014,196.24. This represents a 43.39% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 424,920 shares of company stock worth $27,411,254. 23.06% of the stock is owned by insiders.

Hedge Funds Weigh In On FOX

Several hedge funds have recently bought and sold shares of FOX. Cetera Investment Advisers purchased a new position in FOX in the 1st quarter valued at about $870,000. Mackenzie Financial Corp raised its position in shares of FOX by 65.7% in the first quarter. Mackenzie Financial Corp now owns 7,453 shares of the company’s stock valued at $393,000 after buying an additional 2,954 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of 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 buying an additional 231 shares during the period. Natixis Advisors LLC acquired a new stake in FOX during the first quarter worth approximately $707,000. Finally, PNC Financial Services Group Inc. grew its stake in FOX by 0.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 34,898 shares of the company’s stock worth $1,839,000 after acquiring an additional 266 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

About FOX

(Get Free Report)

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.

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