Insider Selling: FOX (NASDAQ:FOXA) CFO Sells 138,397 Shares of Stock

Fox Corporation (NASDAQ:FOXA) CFO Steven Tomsic sold 138,397 shares of FOX stock in a transaction on Monday, November 10th. The stock was sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the transaction, the chief financial officer directly owned 180,556 shares in the company, valued at approximately $12,014,196.24. This represents a 43.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

FOX Trading Up 0.8%

Shares of FOXA stock traded up $0.56 on Monday, hitting $66.53. The stock had a trading volume of 3,276,556 shares, compared to its average volume of 3,857,616. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. Fox Corporation has a twelve month low of $44.73 and a twelve month high of $67.17. The company has a fifty day moving average price of $60.63 and a two-hundred day moving average price of $57.07. The firm has a market cap of $29.54 billion, a P/E ratio of 14.95, a PEG ratio of 1.48 and a beta of 0.52.

FOX (NASDAQ:FOXA) last posted its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.41. FOX had a return on equity of 18.61% and a net margin of 12.35%.The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the company posted $1.45 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts forecast that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FOXA has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of FOX from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Cfra Research upgraded FOX from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 5th. Cowen reiterated a “hold” rating on shares of FOX in a report on Friday, October 31st. UBS Group boosted their target price on FOX from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Fox Advisors set a $97.00 price target on FOX in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.94.

Institutional Investors Weigh In On FOX

A number of institutional investors and hedge funds have recently modified their holdings of FOXA. Assetmark Inc. raised its stake in FOX by 752.1% in the 1st quarter. Assetmark Inc. now owns 1,951,657 shares of the company’s stock worth $110,464,000 after purchasing an additional 1,722,616 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of FOX by 164,675.7% during the first quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company’s stock worth $71,066,000 after purchasing an additional 1,254,829 shares during the period. Nuveen LLC acquired a new stake in shares of FOX in the first quarter valued at approximately $63,125,000. Junto Capital Management LP bought a new stake in shares of FOX in the first quarter valued at approximately $53,681,000. Finally, Ameriprise Financial Inc. grew its position in FOX by 537.0% during the first quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company’s stock worth $59,909,000 after buying an additional 892,437 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

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.