Fox Co. (NASDAQ:FOX) Chairman Keith Rupert Murdoch Sells 100,000 Shares

Fox Co. (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 in the company, valued at approximately $52,935,147.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

FOX Price Performance

Shares of NASDAQ:FOX opened at $42.38 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. Fox Co. has a one year low of $25.82 and a one year high of $42.42. The company has a 50-day simple moving average of $38.33 and a 200-day simple moving average of $34.74. The stock has a market capitalization of $19.50 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 2.08 and a beta of 0.81.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, analysts predict that Fox Co. will post 3.59 EPS for the current year.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new position in FOX in the 2nd quarter valued at about $65,709,000. Independent Franchise Partners LLP grew its holdings in FOX by 14.5% during the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock valued at $160,863,000 after purchasing an additional 636,247 shares in the last quarter. Regal Partners Ltd purchased a new position in FOX in the 2nd quarter valued at about $16,398,000. Dimensional Fund Advisors LP grew its stake in shares of FOX by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock valued at $74,483,000 after acquiring an additional 272,743 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of FOX by 867.4% during the second quarter. Edgestream Partners L.P. now owns 304,088 shares of the company’s stock worth $9,737,000 after acquiring an additional 272,656 shares during the last quarter. Institutional investors and hedge funds own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Seaport Res Ptn downgraded 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 research report on Wednesday, October 9th.

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.