FOX (NASDAQ:FOXA) Raised to Moderate Buy at Cfra Research

FOX (NASDAQ:FOXA) was upgraded by equities research analysts at Cfra Research from a “hold” rating to a “moderate buy” rating in a note issued to investors on Monday,Zacks.com reports.

FOXA has been the subject of several other research reports. Guggenheim reaffirmed a “buy” rating and set a $60.00 price objective on shares of FOX in a research report on Tuesday, March 25th. Wells Fargo & Company dropped their price target on FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Citigroup raised their price objective on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Wolfe Research downgraded shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price objective on the stock. in a report on Monday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.06.

FOX Trading Down 4.0 %

Shares of FOXA traded down $2.07 during mid-day trading on Monday, reaching $49.44. 1,120,155 shares of the company were exchanged, compared to its average volume of 3,343,082. The business has a 50 day simple moving average of $54.15 and a two-hundred day simple moving average of $48.79. FOX has a 52 week low of $30.02 and a 52 week high of $58.74. The stock has a market capitalization of $22.42 billion, a PE ratio of 10.64, a PEG ratio of 1.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.34 earnings per share. FOX’s quarterly revenue was up 19.9% on a year-over-year basis. On average, analysts predict that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOXA. DnB Asset Management AS boosted its position in shares of FOX by 0.6% during the 4th quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock valued at $2,141,000 after acquiring an additional 245 shares during the last quarter. Jones Financial Companies Lllp lifted its position in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after buying an additional 262 shares in the last quarter. US Bancorp DE increased its holdings in shares of FOX by 2.0% in the 4th quarter. US Bancorp DE now owns 14,520 shares of the company’s stock worth $705,000 after buying an additional 281 shares during the last quarter. Finally, Metis Global Partners LLC raised its position in shares of FOX by 2.8% during the 4th quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock valued at $524,000 after buying an additional 292 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

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.