FOX (NASDAQ:FOX) Trading Up 3.6% – Time to Buy?

Shares of Fox Co. (NASDAQ:FOX) were up 3.6% on Monday . The stock traded as high as $52.38 and last traded at $52.36. Approximately 1,169,087 shares traded hands during trading, a decline of 1% from the average daily volume of 1,179,118 shares. The stock had previously closed at $50.52.

Analyst Upgrades and Downgrades

Separately, Moffett Nathanson cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st.

FOX Stock Up 2.4 %

The stock has a market capitalization of $24.03 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $50.57 and a 200 day moving average price of $45.26.

FOX (NASDAQ:FOX) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.35. FOX had a net margin of 14.39% and a return on equity of 18.50%. During the same quarter last year, the business posted $0.34 EPS. As a group, analysts forecast that Fox Co. will post 4.25 EPS for the current year.

FOX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were paid a $0.27 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.04%. FOX’s payout ratio is 11.56%.

Insider Buying and Selling

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is owned by insiders.

Hedge Funds Weigh In On FOX

Hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in FOX in the fourth quarter worth $29,000. Glenmede Trust Co. NA boosted its holdings 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 buying an additional 449 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of FOX by 135.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company’s stock worth $42,000 after acquiring an additional 522 shares during the period. Principal Securities Inc. grew its position in shares of FOX by 51.5% in the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after purchasing an additional 362 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of FOX by 82.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company’s stock valued at $61,000 after purchasing an additional 608 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

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.