FOX (NASDAQ:FOX) Hits New 52-Week High – Should You Buy?

Fox Co. (NASDAQ:FOX)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $44.79 and last traded at $44.76, with a volume of 168714 shares trading hands. The stock had previously closed at $44.36.

Analysts Set New Price Targets

FOX has been the subject of a number of recent analyst reports. Barclays upgraded FOX to a “hold” rating in a report on Wednesday, October 9th. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th.

FOX Stock Performance

The business has a fifty day simple moving average of $40.24 and a 200-day simple moving average of $36.24. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.43 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.70 and a beta of 0.81.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Nallen sold 182,481 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,053,505 shares of company stock worth $47,705,970. 23.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FOX

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its position in shares of FOX by 457.5% during the third quarter. Franklin Resources Inc. now owns 44,332 shares of the company’s stock valued at $1,694,000 after buying an additional 36,380 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of FOX during the third quarter valued at $384,000. Virtu Financial LLC boosted its position in shares of FOX by 971.8% during the third quarter. Virtu Financial LLC now owns 215,425 shares of the company’s stock valued at $8,358,000 after buying an additional 195,326 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of FOX by 1.8% during the third quarter. Toronto Dominion Bank now owns 66,398 shares of the company’s stock valued at $2,576,000 after buying an additional 1,143 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of FOX by 3.1% during the third quarter. Geode Capital Management LLC now owns 3,109,955 shares of the company’s stock valued at $120,299,000 after buying an additional 92,515 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Company Profile

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.