FOX (NASDAQ:FOX) Reaches New 1-Year High – Time to Buy?

Fox Co. (NASDAQ:FOX)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $49.32 and last traded at $49.05, with a volume of 489013 shares. The stock had previously closed at $48.60.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Moffett Nathanson cut FOX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Barclays raised FOX to a “hold” rating in a research note on Wednesday, October 9th.

FOX Stock Performance

The business has a fifty day simple moving average of $45.83 and a two-hundred day simple moving average of $40.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The company has a market cap of $22.47 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82.

FOX (NASDAQ:FOX) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.35. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.37 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. During the same quarter in the prior year, the business earned $1.09 earnings per share. Research analysts anticipate that Fox Co. will post 3.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 771,024 shares of the firm’s 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 Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of the firm’s 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 of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,053,505 shares of company stock worth $47,705,970 over the last 90 days. Company insiders own 23.06% of the company’s stock.

Institutional Trading of FOX

A number of institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB acquired a new stake in shares of FOX in the 4th quarter worth $1,070,000. Ieq Capital LLC acquired a new stake in shares of FOX in the 4th quarter worth $211,000. CIBC Asset Management Inc lifted its position in FOX by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 23,415 shares of the company’s stock worth $1,071,000 after acquiring an additional 1,034 shares during the period. Principal Financial Group Inc. lifted its position in FOX by 7.6% during the 4th quarter. Principal Financial Group Inc. now owns 182,205 shares of the company’s stock worth $8,334,000 after acquiring an additional 12,864 shares during the period. Finally, Principal Securities Inc. lifted its position in FOX by 51.5% during the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after acquiring an additional 362 shares during the period. Institutional investors and hedge funds own 26.41% 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.