FOX (NASDAQ:FOXA) CEO Lachlan Murdoch Sells 247,257 Shares

Fox Corporation (NASDAQ:FOXA) CEO Lachlan Murdoch sold 247,257 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $57.69, for a total value of $14,264,256.33. Following the completion of the transaction, the chief executive officer directly owned 175,524 shares in the company, valued at $10,125,979.56. This represents a 58.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

FOX Stock Performance

NASDAQ FOXA traded down $0.35 on Friday, hitting $57.39. 9,569,095 shares of the company’s stock traded hands, compared to its average volume of 3,978,365. The firm has a market capitalization of $24.41 billion, a PE ratio of 13.80, a P/E/G ratio of 7.54 and a beta of 0.55. Fox Corporation has a 1-year low of $46.42 and a 1-year high of $76.39. The firm’s 50-day moving average price is $65.28 and its two-hundred day moving average price is $64.45. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.35. The company had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.02 billion. FOX had a return on equity of 18.14% and a net margin of 11.41%.The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. As a group, analysts expect that Fox Corporation will post 4.38 EPS for the current year.

FOX Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a yield of 83.0%. FOX’s payout ratio is presently 13.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FOXA. UBS Group set a $64.00 target price on shares of FOX in a research note on Tuesday, February 24th. Citigroup upped their price target on FOX from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Morgan Stanley increased their price target on FOX from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Bank of America lowered FOX from a “buy” rating to an “underperform” rating and set a $45.00 price objective on the stock. in a report on Wednesday, February 25th. Finally, Argus upgraded FOX to a “hold” rating in a research report on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.80.

Hedge Funds Weigh In On FOX

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FWL Investment Management LLC acquired a new stake in FOX in the 3rd quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in shares of FOX in the fourth quarter valued at approximately $27,000. CYBER HORNET ETFs LLC acquired a new stake in shares of FOX in the second quarter valued at approximately $35,000. Rosenberg Matthew Hamilton lifted its position in FOX by 58.5% during the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after buying an additional 257 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in FOX during the third quarter worth approximately $51,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.