Key Points
- Adam Ciongoli sold 29,897 shares of Fox on Dec. 9 at an average price of $69.55 for about $2.08 million, cutting his position by 45.38% to 35,978 shares, according to the SEC filing.
- Fox recently beat earnings expectations (Q3 EPS $1.51 vs. $1.06 estimate; revenue $3.74B vs. $3.57B) and carries a consensus "Buy" from analysts with an average target of $81.67 while trading near $62 (12‑month range $43.18–$62.30).
Fox Corporation (NASDAQ:FOX - Get Free Report) insider Adam Ciongoli sold 29,897 shares of the business's stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the completion of the transaction, the insider owned 35,978 shares of the company's stock, valued at approximately $2,502,269.90. This trade represents a 45.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
FOX Stock Up 1.5%
Shares of NASDAQ FOX opened at $62.20 on Wednesday. The stock has a market cap of $27.61 billion, a P/E ratio of 13.98, a PEG ratio of 1.36 and a beta of 0.56. The business's fifty day simple moving average is $56.67 and its 200-day simple moving average is $53.75. Fox Corporation has a 12-month low of $43.18 and a 12-month high of $62.30. 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 (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.45. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%. As a group, equities analysts predict that Fox Corporation will post 4.25 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new stake in FOX during the 3rd quarter worth $26,000. Federated Hermes Inc. grew its holdings in shares of FOX by 66.2% during the first quarter. Federated Hermes Inc. now owns 580 shares of the company's stock worth $31,000 after purchasing an additional 231 shares during the last quarter. Quent Capital LLC purchased a new position in shares of FOX during the third quarter worth about $32,000. Brown Brothers Harriman & Co. increased its position in shares of FOX by 336.9% during the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company's stock worth $35,000 after purchasing an additional 475 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of FOX by 183.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 801 shares of the company's stock valued at $42,000 after purchasing an additional 518 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on FOX. Weiss Ratings restated a "buy (b)" rating on shares of FOX in a research note on Monday. Zacks Research raised shares of FOX from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 7th. UBS Group restated a "buy" rating on shares of FOX in a report on Friday, October 31st. Cfra reiterated a "buy" rating and set a $73.00 target price on shares of FOX in a research note on Monday, November 3rd. Finally, Fox Advisors set a $97.00 target price on FOX in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $81.67.
Get Our Latest Analysis on FOX
About FOX
(
Get Free Report)
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.
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