FOX (NASDAQ:FOXA) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of FOX (NASDAQ:FOXA) from a buy rating to a hold rating in a report published on Monday.

A number of other research firms also recently commented on FOXA. TD Cowen boosted their target price on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. UBS Group boosted their target price on shares of FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Rosenblatt Securities boosted their target price on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price target on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.00.

FOX Stock Down 1.6 %

FOXA stock opened at $46.08 on Monday. FOX has a 52 week low of $28.28 and a 52 week high of $47.58. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The firm’s 50-day moving average is $43.00 and its two-hundred day moving average is $38.81. 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 released its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the firm earned $1.09 EPS. FOX’s revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that FOX will post 3.94 earnings per share for the current fiscal year.

Insider Activity at FOX

In related news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

Institutional Trading of FOX

Several large investors have recently added to or reduced their stakes in FOXA. Massmutual Trust Co. FSB ADV grew its position in FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after acquiring an additional 461 shares in the last quarter. Friedenthal Financial bought a new stake in FOX in the second quarter worth approximately $51,000. Quest Partners LLC bought a new stake in FOX in the third quarter worth approximately $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX in the second quarter worth approximately $52,000. Finally, Quarry LP bought a new stake in FOX in the third quarter worth approximately $70,000. 52.52% of the stock is 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 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.