FOX (NASDAQ:FOX) Hits New 1-Year High – What’s Next?

Fox Co. (NASDAQ:FOX)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $42.88 and last traded at $42.88, with a volume of 57296 shares traded. The stock had previously closed at $42.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FOX shares. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Barclays upgraded shares of FOX to a “hold” rating in a report on Wednesday, October 9th.

FOX Stock Performance

The company has a market capitalization of $20.09 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 1.59 and a beta of 0.81. The stock’s 50 day moving average price is $38.54 and its 200 day moving average price is $35.05. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

Insider Transactions at FOX

In other news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 335,355 shares of company stock worth $14,244,865 in the last 90 days. Corporate insiders own 23.06% of the company’s stock.

Institutional Investors Weigh In On FOX

Several hedge funds and other institutional investors have recently made changes to their positions in FOX. Mirae Asset Global Investments Co. Ltd. grew its stake in FOX by 62.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,839 shares of the company’s stock valued at $735,000 after buying an additional 9,587 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of FOX by 144.8% in the first quarter. SG Americas Securities LLC now owns 44,336 shares of the company’s stock worth $1,269,000 after acquiring an additional 26,225 shares during the period. Headlands Technologies LLC grew its stake in shares of FOX by 23.7% during the 1st quarter. Headlands Technologies LLC now owns 14,621 shares of the company’s stock valued at $418,000 after acquiring an additional 2,805 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in FOX by 1.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 141,611 shares of the company’s stock worth $4,434,000 after buying an additional 2,020 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of FOX by 81.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 204,305 shares of the company’s stock worth $5,847,000 after buying an additional 91,954 shares in the last quarter. 26.41% 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.