FOX (NASDAQ:FOXA) Reaches New 52-Week High – Time to Buy?

Fox Co. (NASDAQ:FOXA)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $47.58 and last traded at $47.35, with a volume of 2652226 shares trading hands. The stock had previously closed at $46.07.

Analyst Ratings Changes

A number of research analysts recently issued reports on FOXA shares. Cfra reiterated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. The Goldman Sachs Group lifted their target price on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Macquarie reiterated a “neutral” rating and issued a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. Finally, TD Cowen raised their price target on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.00.

FOX Price Performance

The stock has a fifty day simple moving average of $44.42 and a two-hundred day simple moving average of $40.04. The company has a market cap of $21.50 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts predict that Fox Co. will post 3.94 EPS for the current fiscal year.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. The trade was a 7.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of FOX 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 transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock valued at $20,822,072 in the last quarter. 21.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FOXA. Quest Partners LLC acquired a new position in shares of FOX during the 3rd quarter worth approximately $51,000. Duncker Streett & Co. Inc. acquired a new position in shares of FOX during the 2nd quarter worth approximately $52,000. Quarry LP acquired a new position in shares of FOX during the 3rd quarter worth approximately $70,000. Transamerica Financial Advisors Inc. acquired a new position in shares of FOX during the 3rd quarter worth approximately $119,000. Finally, Exchange Traded Concepts LLC acquired a new position in FOX in the 3rd quarter valued at $141,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.