Fox Corporation (NASDAQ:FOX – Get Free Report) CEO Lachlan Murdoch bought 149,934 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the acquisition, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
FOX Stock Performance
Shares of NASDAQ:FOX traded down $1.19 during midday trading on Wednesday, hitting $59.15. The company’s stock had a trading volume of 1,007,409 shares, compared to its average volume of 1,571,733. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The stock’s 50 day simple moving average is $55.80 and its 200 day simple moving average is $54.86. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.65 and a beta of 0.58. Fox Corporation has a fifty-two week low of $44.08 and a fifty-two week high of $68.18.
FOX (NASDAQ:FOX – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.35. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. As a group, research analysts anticipate that Fox Corporation will post 5.99 earnings per share for the current year.
FOX Announces Dividend
Wall Street Analysts Forecast Growth
FOX has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of FOX from a “hold” rating to an “overweight” rating and set a $80.00 price objective on the stock in a report on Friday, August 14th. Zacks Research cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 28th. Weiss Ratings raised shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 10th. Seaport Research Partners lowered shares of FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. upgraded shares of FOX from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $82.00 in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $77.67.
Check Out Our Latest Stock Analysis on FOX
Institutional Trading of FOX
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Great Lakes Advisors LLC acquired a new position in FOX in the 2nd quarter valued at $4,222,000. Wedge Capital Management L L P NC acquired a new stake in shares of FOX during the 2nd quarter worth $35,047,000. National Pension Service grew its holdings in shares of FOX by 56.2% during the 2nd quarter. National Pension Service now owns 56,048 shares of the company’s stock worth $2,625,000 after purchasing an additional 20,157 shares in the last quarter. Foster & Motley Inc. bought a new position in shares of FOX in the second quarter worth $9,237,000. Finally, F&V Capital Management LLC increased its position in shares of FOX by 31.0% in the second quarter. F&V Capital Management LLC now owns 373,105 shares of the company’s stock worth $17,476,000 after purchasing an additional 88,395 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.
FOX Company Profile
Fox Corporation (NASDAQ: FOX) is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.
The company’s principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.
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