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

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

A number of other brokerages also recently commented on FOXA. Evercore ISI raised shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Rosenblatt Securities raised their target price on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Bank of America raised their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Loop Capital lifted their price target on shares of FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Macquarie reaffirmed a “neutral” rating and set a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.00.

FOX Stock Down 1.6 %

Shares of FOXA opened at $46.08 on Monday. The firm has a market cap of $21.05 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The company’s fifty day moving average is $43.00 and its two-hundred day moving average is $38.81. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating 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 business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the firm posted $1.09 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts forecast that FOX will post 3.94 earnings per share for the current year.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. boosted its stake in FOX by 11.0% during the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after purchasing an additional 326 shares during the period. Crossmark Global Holdings Inc. boosted its stake in FOX by 1.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after purchasing an additional 385 shares during the period. Raymond James Trust N.A. boosted its stake in FOX by 4.4% during the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock valued at $333,000 after purchasing an additional 406 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in FOX by 1.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock valued at $1,249,000 after purchasing an additional 451 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its stake in FOX by 0.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock valued at $1,695,000 after purchasing an additional 453 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

About FOX

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.