FOX (NASDAQ:FOXA) Upgraded at Seaport Research Partners

Seaport Research Partners upgraded shares of FOX (NASDAQ:FOXA) from a neutral rating to a buy rating in a research note published on Monday morning, Marketbeat Ratings reports. They currently have $76.00 price target on the stock.

A number of other brokerages have also commented on FOXA. Weiss Ratings upgraded FOX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 26th. JPMorgan Chase & Co. lifted their price target on shares of FOX from $82.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Jefferies Financial Group downgraded shares of FOX to a “hold” rating in a research note on Friday, October 16th. Needham & Company LLC began coverage on shares of FOX in a report on Friday, October 16th. They issued a “buy” rating on the stock. Finally, Citigroup began coverage on shares of FOX in a research note on Monday, September 14th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.16.

FOX Stock Up 0.9%

NASDAQ FOXA opened at $67.98 on Monday. FOX has a twelve month low of $48.34 and a twelve month high of $76.39. The stock has a market cap of $28.67 billion, a PE ratio of 10.41, a PEG ratio of 1.11 and a beta of 0.63. The firm has a 50-day simple moving average of $64.89 and a 200 day simple moving average of $62.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.50 and a current ratio of 3.79.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.52. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.32 billion. FOX had a return on equity of 23.96% and a net margin of 11.30%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 earnings per share. On average, research analysts forecast that FOX will post 6.02 EPS for the current year.

Insider Activity

In related news, CEO Lachlan Murdoch acquired 149,934 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the acquisition, the chief executive officer owned 1,401,713 shares in the company, valued at $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 20.89% of the company’s stock.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S bought a new stake in FOX during the 3rd quarter worth approximately $43,703,000. Junto Capital Management LP bought a new position in FOX in the 2nd quarter valued at $34,773,000. Robeco Institutional Asset Management B.V. acquired a new position in FOX in the third quarter worth $29,395,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in FOX in the second quarter worth $21,519,000. Finally, Pictet Asset Management Holding SA boosted its stake in FOX by 112.3% in the third quarter. Pictet Asset Management Holding SA now owns 493,559 shares of the company’s stock worth $30,921,000 after purchasing an additional 261,072 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation is a media company focused primarily on news, sports and entertainment for audiences in the United States. Its businesses include Fox News Media, Fox Sports and Fox Entertainment, which produce and distribute television programming, news coverage, live sports and entertainment content. The company also operates the Fox broadcast network and local television stations, and offers streaming services including Tubi, an ad-supported streaming platform, and Fox Nation, a subscription service.