FOX (NASDAQ:FOX) Sets New 12-Month High – Time to Buy?

Fox Co. (NASDAQ:FOX) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $39.85 and last traded at $39.85, with a volume of 4940 shares traded. The stock had previously closed at $38.89.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Barclays raised shares of FOX to a “hold” rating in a research note on Wednesday, October 9th.

FOX Trading Up 1.8 %

The business has a fifty day moving average price of $38.25 and a 200 day moving average price of $34.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81.

FOX (NASDAQ:FOX) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, equities analysts expect that Fox Co. will post 3.59 EPS for the current fiscal year.

Insider Transactions at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the company’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 of the company’s stock, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Nallen sold 52,874 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 249,424 shares of the company’s stock, 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. 23.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FOX. Virtu Financial LLC bought a new stake in FOX in the first quarter valued at approximately $1,711,000. Swedbank AB increased its position in FOX by 117.8% during the second quarter. Swedbank AB now owns 145,711 shares of the company’s stock worth $4,666,000 after acquiring an additional 78,801 shares during the period. AMF Tjanstepension AB acquired a new stake in shares of FOX in the second quarter valued at approximately $7,690,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in FOX by 47.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 362,172 shares of the company’s stock valued at $10,365,000 after acquiring an additional 116,218 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in FOX by 8.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 207,076 shares of the company’s stock worth $5,923,000 after purchasing an additional 16,840 shares during the period. Institutional investors and hedge funds 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.