Insider Selling: Fox Co. (NASDAQ:FOXA) Chairman Sells 186,871 Shares of Stock

Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Keith Rupert Murdoch also recently made the following trade(s):

• On Wednesday, November 6th, Keith Rupert Murdoch sold 100,000 shares of FOX stock. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00.

FOX Price Performance

FOX stock traded up $0.07 during midday trading on Tuesday, reaching $46.15. The company’s stock had a trading volume of 3,916,734 shares, compared to its average volume of 3,077,324. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The stock has a market cap of $21.08 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.58. The business has a 50-day moving average price of $43.12 and a 200-day moving average price of $38.90.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 EPS. On average, sell-side analysts predict that Fox Co. will post 3.94 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FOXA shares. Evercore ISI upgraded shares of FOX to a “hold” rating in a research report on Tuesday, November 5th. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group boosted their target price on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Guggenheim raised their price target on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley increased their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.

Institutional Investors Weigh In On FOX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. increased its position in FOX by 11.0% in the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after acquiring an additional 326 shares during the period. Jane Street Group LLC grew its position in shares of FOX by 25.2% in the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after buying an additional 28,072 shares during the last quarter. iA Global Asset Management Inc. increased its stake in shares of FOX by 45.0% in the first quarter. iA Global Asset Management Inc. now owns 32,806 shares of the company’s stock valued at $1,026,000 after buying an additional 10,179 shares during the period. Plato Investment Management Ltd bought a new position in shares of FOX during the first quarter worth about $802,000. Finally, Swedbank AB acquired a new position in shares of FOX in the first quarter worth approximately $4,466,000. Institutional investors own 52.52% of the company’s stock.

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.