FOX (NASDAQ:FOX) Stock Rating Upgraded by Barclays

FOX (NASDAQ:FOX) was upgraded by equities research analysts at Barclays to a “hold” rating in a research report issued to clients and investors 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

Shares of FOX stock opened at $38.05 on Wednesday. The stock has a 50 day moving average of $37.43 and a two-hundred day moving average of $33.25. 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 has a 12 month low of $25.82 and a 12 month high of $39.15. The company has a market capitalization of $17.76 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.97 and a beta of 0.81.

FOX (NASDAQ:FOX) last posted its 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 during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. During the same quarter last year, the company earned $0.88 EPS. As a group, equities analysts expect that FOX will post 3.59 EPS for the current year.

Insider Transactions at FOX

In other news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, 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 legal filing with the SEC, which is available at the SEC website. In other news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, 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 legal filing with the SEC, which is available at the SEC website. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was 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 owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 19.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC increased its holdings in shares of FOX by 20.8% in the fourth quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock worth $94,000 after acquiring an additional 585 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of FOX by 93.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 945,930 shares of the company’s stock worth $26,155,000 after acquiring an additional 456,546 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of FOX by 1.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 52,522 shares of the company’s stock worth $1,452,000 after acquiring an additional 790 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of FOX by 51.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 245,954 shares of the company’s stock worth $6,801,000 after acquiring an additional 83,171 shares in the last quarter. Finally, Alaska Permanent Fund Corp increased its holdings in shares of FOX by 95.8% in the first quarter. Alaska Permanent Fund Corp now owns 30,554 shares of the company’s stock worth $874,000 after acquiring an additional 14,951 shares in 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 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.