FOX (NASDAQ:FOX) Reaches New 12-Month High – Should You Buy?

Fox Co. (NASDAQ:FOX) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $44.93 and last traded at $44.86, with a volume of 220760 shares changing hands. The stock had previously closed at $43.76.

Analysts Set New Price Targets

FOX has been the subject of several research reports. Barclays upgraded FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

FOX Stock Down 0.5 %

The stock has a market capitalization of $20.43 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 1.58 and a beta of 0.83. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average is $41.51 and its two-hundred day moving average is $37.28.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,053,505 shares of company stock worth $47,705,970 over the last ninety days. Corporate insiders own 23.06% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in shares of FOX by 457.5% during the 3rd quarter. Franklin Resources Inc. now owns 44,332 shares of the company’s stock worth $1,694,000 after purchasing an additional 36,380 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of FOX during the third quarter valued at about $384,000. Virtu Financial LLC raised its stake in shares of FOX by 971.8% in the 3rd quarter. Virtu Financial LLC now owns 215,425 shares of the company’s stock valued at $8,358,000 after acquiring an additional 195,326 shares during the period. Toronto Dominion Bank lifted its holdings in shares of FOX by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 66,398 shares of the company’s stock worth $2,576,000 after acquiring an additional 1,143 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of FOX by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,109,955 shares of the company’s stock worth $120,299,000 after purchasing an additional 92,515 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Company Profile

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.