FOX (NASDAQ:FOX) Sets New 1-Year High – What’s Next?

Fox Co. (NASDAQ:FOX)’s share price hit a new 52-week high on Monday . The stock traded as high as $39.85 and last traded at $39.85, with a volume of 4940 shares changing hands. The stock had previously closed at $38.89.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays upgraded FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

FOX Stock Up 1.8 %

The stock’s 50 day simple moving average is $38.25 and its 200 day simple moving average is $34.68. The stock has a market capitalization of $18.71 billion, a P/E ratio of 9.94, a P/E/G ratio of 2.03 and a beta of 0.81. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. During the same quarter last year, the company posted $0.88 earnings per share. As a group, research analysts predict that Fox Co. will post 3.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is currently owned by company insiders.

Institutional Trading of FOX

Several hedge funds have recently made changes to their positions in FOX. Virtu Financial LLC acquired a new stake in FOX in the first quarter worth $1,711,000. Swedbank AB boosted its stake in FOX by 117.8% during the 2nd quarter. Swedbank AB now owns 145,711 shares of the company’s stock valued at $4,666,000 after purchasing an additional 78,801 shares during the period. AMF Tjanstepension AB bought a new position in FOX in the 2nd quarter worth about $7,690,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of FOX by 47.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 362,172 shares of the company’s stock valued at $10,365,000 after purchasing an additional 116,218 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of FOX by 8.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 207,076 shares of the company’s stock valued at $5,923,000 after buying an additional 16,840 shares during the last quarter. Institutional investors own 26.41% 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.