Cfra Reiterates “Sell” Rating for FOX (NASDAQ:FOXA)

FOX (NASDAQ:FOXA)‘s stock had its “sell” rating reiterated by Cfra in a report issued on Wednesday, Benzinga reports.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price objective on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. JPMorgan Chase & Co. raised their price objective on shares of FOX from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday. Guggenheim raised their price objective on shares of FOX from $44.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.64.

FOX Price Performance

FOX stock traded down $0.28 during trading hours on Wednesday, reaching $42.04. 1,245,169 shares of the stock were exchanged, compared to its average volume of 3,058,685. The company has a market cap of $19.35 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. 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 twelve month low of $28.28 and a twelve month high of $42.44. The stock has a 50 day moving average of $39.40 and a two-hundred day moving average of $34.99.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. Equities analysts expect that FOX will post 3.72 EPS for the current fiscal year.

Insider Activity at FOX

In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. 21.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FOX

Large investors have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV lifted its stake in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after acquiring an additional 461 shares in the last quarter. UMB Bank n.a. lifted its stake in FOX by 254.4% during the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after acquiring an additional 809 shares in the last quarter. Friedenthal Financial bought a new position in FOX during the 2nd quarter valued at $51,000. Duncker Streett & Co. Inc. bought a new position in FOX during the 2nd quarter valued at $52,000. Finally, Meeder Asset Management Inc. bought a new position in FOX during the 1st quarter valued at $66,000. 52.52% of the stock is currently owned by institutional investors.

FOX Company Profile

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.