FOX (NASDAQ:FOX) Stock Rating Upgraded by Barclays

FOX (NASDAQ:FOX) was upgraded by equities researchers at Barclays to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

Separately, Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th.

FOX Price Performance

NASDAQ:FOX opened at $38.05 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average price is $37.43 and its two-hundred day moving average price is $33.25. The firm has a market capitalization of $17.76 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 1.97 and a beta of 0.81. FOX has a 12-month low of $25.82 and a 12-month high of $39.15.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, analysts anticipate that FOX will post 3.59 earnings per share for the current year.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 19.21% of the company’s stock.

Institutional Investors Weigh In On FOX

Several hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in FOX during the 1st quarter worth about $1,711,000. Swedbank AB lifted its holdings in FOX by 117.8% during the 2nd quarter. Swedbank AB now owns 145,711 shares of the company’s stock worth $4,666,000 after buying an additional 78,801 shares during the period. AMF Tjanstepension AB acquired a new position in FOX during the 2nd quarter worth about $7,690,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in FOX by 47.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 362,172 shares of the company’s stock worth $10,365,000 after buying an additional 116,218 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in FOX by 93.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 945,930 shares of the company’s stock worth $26,155,000 after buying an additional 456,546 shares during the period. Institutional investors and hedge funds 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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.