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

Fox Co. (NASDAQ:FOX) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $47.19 and last traded at $47.07, with a volume of 130823 shares trading hands. The stock had previously closed at $46.47.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FOX. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Barclays upgraded shares of FOX to a “hold” rating in a report on Wednesday, October 9th.

FOX Stock Performance

The company has a 50-day simple moving average of $42.12 and a two-hundred day simple moving average of $37.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm has a market capitalization of $21.00 billion, a P/E ratio of 11.24, a PEG ratio of 1.58 and a beta of 0.83.

Insider Activity at FOX

In other news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’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 value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,053,505 shares of company stock worth $47,705,970 over the last ninety days. 23.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FOX

A number of institutional investors have recently modified their holdings of FOX. Glenmede Trust Co. NA boosted its stake in FOX by 136.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after purchasing an additional 449 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of FOX by 692.1% in the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after buying an additional 1,232 shares in the last quarter. Intact Investment Management Inc. bought a new position in shares of FOX in the third quarter worth approximately $74,000. Exchange Traded Concepts LLC purchased a new stake in shares of FOX during the third quarter valued at approximately $128,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of FOX during the second quarter valued at approximately $136,000. 26.41% of the stock is owned by hedge funds and other institutional investors.

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.