FOX (NASDAQ:FOXA) Hits New 52-Week High – What’s Next?

Fox Co. (NASDAQ:FOXA)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $52.09 and last traded at $51.98, with a volume of 2208579 shares. The stock had previously closed at $51.18.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price target on FOX from $49.00 to $59.00 and gave the stock an “underweight” rating in a report on Friday, January 10th. UBS Group upped their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and upped their price target for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Finally, StockNews.com cut FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.25.

FOX Stock Performance

The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76. The company has a 50-day moving average of $48.35 and a 200-day moving average of $43.72.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 EPS. On average, equities research analysts forecast that Fox Co. will post 4.12 earnings per share for the current fiscal year.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 469,352 shares of company stock valued at $20,822,072. Corporate insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FOXA. Algert Global LLC bought a new position in FOX during the second quarter valued at about $362,000. Creative Planning boosted its stake in FOX by 119.2% during the second quarter. Creative Planning now owns 29,277 shares of the company’s stock valued at $1,006,000 after buying an additional 15,921 shares in the last quarter. Sanctuary Advisors LLC bought a new position in FOX during the second quarter valued at about $962,000. Czech National Bank boosted its stake in FOX by 3.9% during the third quarter. Czech National Bank now owns 45,762 shares of the company’s stock valued at $1,937,000 after buying an additional 1,714 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of FOX by 65.1% during the third quarter. GAMMA Investing LLC now owns 5,505 shares of the company’s stock valued at $233,000 after purchasing an additional 2,171 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

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.