Key Points
- Sold 100,000 shares: Chairman Keith Rupert Murdoch sold 100,000 FOXA shares on Nov. 21 at an average price of $59.26 for $5.926M, cutting his stake by 8.33% to 1,100,862 shares (≈$65.24M).
- He also sold 168,756 shares on Nov. 7 at $65.97 for about $11.13M, marking multiple recent insider dispositions.
- Company performance and outlook: Fox reported $1.51 EPS (vs. $1.10 expected) and $3.74B revenue for the quarter, and analysts hold a consensus "Moderate Buy" with an average price target of $70.50.
Fox Corporation (NASDAQ:FOXA - Get Free Report) Chairman Keith Rupert Murdoch sold 100,000 shares of the business's stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $59.26, for a total transaction of $5,926,000.00. Following the transaction, the chairman owned 1,100,862 shares in the company, valued at $65,237,082.12. This represents a 8.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Keith Rupert Murdoch also recently made the following trade(s):
- On Friday, November 7th, Keith Rupert Murdoch sold 168,756 shares of FOX stock. The stock was sold at an average price of $65.97, for a total transaction of $11,132,833.32.
FOX Stock Performance
FOX stock opened at $64.73 on Wednesday. Fox Corporation has a fifty-two week low of $45.78 and a fifty-two week high of $67.22. The stock's 50 day simple moving average is $62.02 and its two-hundred day simple moving average is $58.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. The stock has a market cap of $28.74 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.44 and a beta of 0.52.
FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Thursday, October 30th. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.41. FOX had a return on equity of 18.61% and a net margin of 12.35%.The company had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter last year, the business posted $1.45 EPS. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts expect that Fox Corporation will post 4.38 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. FWL Investment Management LLC bought a new position in shares of FOX in the third quarter worth approximately $26,000. Hemington Wealth Management raised its holdings in FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock worth $29,000 after acquiring an additional 359 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in FOX in the 2nd quarter valued at approximately $35,000. Zions Bancorporation National Association UT bought a new position in FOX in the 1st quarter valued at approximately $40,000. Finally, TCTC Holdings LLC boosted its stake in FOX by 112.5% during the 1st quarter. TCTC Holdings LLC now owns 797 shares of the company's stock valued at $45,000 after purchasing an additional 422 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently commented on FOXA. JPMorgan Chase & Co. boosted their target price on shares of FOX from $61.00 to $65.00 and gave the company a "neutral" rating in a report on Friday, October 31st. Guggenheim boosted their price objective on shares of FOX from $62.00 to $68.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Cowen restated a "hold" rating on shares of FOX in a report on Friday, October 31st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of FOX in a research note on Wednesday, November 19th. Finally, Arete Research raised FOX to a "strong-buy" rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $70.50.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
