FOX (NASDAQ:FOXA) Cut to “Neutral” at Moffett Nathanson

Moffett Nathanson cut shares of FOX (NASDAQ:FOXA) from a buy rating to a neutral rating in a research note released on Tuesday, MarketBeat.com reports. Moffett Nathanson currently has $52.00 target price on the stock, up from their prior target price of $51.00.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their price target on FOX from $42.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. UBS Group increased their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price target on FOX from $49.00 to $59.00 and gave the company an “underweight” rating in a research note on Friday, January 10th. Barclays upped their price objective on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Finally, Cfra restated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $48.25.

FOX Stock Performance

FOXA stock opened at $48.56 on Tuesday. FOX has a twelve month low of $28.28 and a twelve month high of $50.63. The firm has a market cap of $22.18 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.18 and a beta of 0.75. The business’s fifty day simple moving average is $47.81 and its two-hundred day simple moving average is $42.97. 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 posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 EPS. Analysts predict that FOX will post 4.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO John Nallen sold 182,481 shares of FOX stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 469,352 shares of company stock valued at $20,822,072. 21.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FOXA. Brooklyn Investment Group boosted its holdings in shares of FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after acquiring an additional 466 shares during the last quarter. Quest Partners LLC purchased a new stake in FOX in the third quarter valued at $51,000. Quarry LP acquired a new stake in FOX during the 3rd quarter worth about $70,000. Versant Capital Management Inc raised its stake in shares of FOX by 3,551.1% during the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after buying an additional 1,669 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of FOX in the 3rd quarter valued at about $119,000. 52.52% of the stock is currently owned by hedge funds and other 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.