FOX (NASDAQ:FOX) Hits New 12-Month High – Here’s What Happened

Fox Co. (NASDAQ:FOX) reached a new 52-week high during trading on Friday . The stock traded as high as $44.79 and last traded at $44.76, with a volume of 168714 shares traded. The stock had previously closed at $44.36.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Barclays raised shares of FOX to a “hold” rating in a research report on Wednesday, October 9th.

FOX Price Performance

The stock has a 50 day moving average of $40.39 and a 200-day moving average of $36.37. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $20.43 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 1.70 and a beta of 0.81.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 771,024 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total transaction of $35,521,075.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,053,505 shares of company stock worth $47,705,970. 23.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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