FOX (NASDAQ:FOXA) CFO Sells $9,208,936.38 in Stock

Fox Corporation (NASDAQ:FOXA) CFO Steven Tomsic sold 138,397 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $66.54, for a total value of $9,208,936.38. Following the sale, the chief financial officer owned 180,556 shares of the company’s stock, valued at approximately $12,014,196.24. The trade was a 43.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

FOX Stock Up 0.4%

Shares of FOX stock opened at $66.71 on Thursday. The stock’s 50-day moving average is $61.01 and its 200 day moving average is $57.38. Fox Corporation has a one year low of $44.82 and a one year high of $67.22. The firm has a market cap of $29.62 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.49 and a beta of 0.52. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03.

FOX (NASDAQ:FOXA) last issued its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.41. FOX had a return on equity of 18.61% and a net margin of 12.35%.The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the company posted $1.45 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Fox Corporation will post 4.38 EPS for the current year.

Hedge Funds Weigh In On FOX

A number of hedge funds have recently bought and sold shares of FOXA. 111 Capital purchased a new stake in shares of FOX in the third quarter valued at about $315,000. Quantbot Technologies LP purchased a new position in FOX during the third quarter worth about $51,000. Handelsbanken Fonder AB grew its position in FOX by 3.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 47,494 shares of the company’s stock worth $2,995,000 after purchasing an additional 1,676 shares in the last quarter. Andra AP fonden increased its stake in FOX by 2.6% in the 3rd quarter. Andra AP fonden now owns 944,500 shares of the company’s stock valued at $59,560,000 after buying an additional 23,700 shares during the last quarter. Finally, DNB Asset Management AS increased its stake in FOX by 1.9% in the 3rd quarter. DNB Asset Management AS now owns 47,982 shares of the company’s stock valued at $3,026,000 after buying an additional 888 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several research analyst reports. Evercore ISI increased their target price on shares of FOX from $55.00 to $66.00 and gave the stock an “in-line” rating in a research note on Friday, October 31st. Citigroup increased their price objective on shares of FOX from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday. Arete upgraded FOX from a “neutral” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Tuesday, October 28th. Barclays upped their price target on FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on FOX from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, FOX presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

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.