Insider Selling: Fox Co. (NASDAQ:FOX) Chairman Sells 100,000 Shares of Stock

Fox Co. (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

FOX Stock Up 4.2 %

NASDAQ FOX traded up $1.72 during trading hours on Wednesday, hitting $42.38. The company’s stock had a trading volume of 1,200,402 shares, compared to its average volume of 1,076,016. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The company’s 50-day simple moving average is $38.25 and its two-hundred day simple moving average is $34.68. The company has a market capitalization of $19.50 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81. Fox Co. has a 52 week low of $25.82 and a 52 week high of $42.42.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm 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 in the prior year, the company earned $0.88 EPS. Research analysts anticipate that Fox Co. will post 3.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FOX. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Barclays raised FOX to a “hold” rating in a report on Wednesday, October 9th.

Hedge Funds Weigh In On FOX

Several hedge funds have recently bought and sold shares of FOX. Blue Trust Inc. grew its holdings in shares of FOX by 692.1% during the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after purchasing an additional 1,232 shares in the last quarter. Friedenthal Financial purchased a new position in shares of FOX in the 2nd quarter worth about $51,000. Intact Investment Management Inc. bought a new position in FOX during the third quarter valued at approximately $74,000. Exchange Traded Concepts LLC bought a new position in shares of FOX during the 3rd quarter valued at $128,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of FOX in the first quarter worth about $97,000. Hedge funds and other 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.