Stock Traders Purchase Large Volume of Call Options on FOX (NASDAQ:FOXA)

Fox Corporation (NASDAQ:FOXA) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 3,156 call options on the stock. This represents an increase of approximately 108% compared to the average volume of 1,515 call options.

FOX Stock Performance

Shares of FOXA stock remained flat at $56.48 on Friday. 9,120,915 shares of the company were exchanged, compared to its average volume of 9,751,737. The stock’s 50-day simple moving average is $61.28 and its two-hundred day simple moving average is $63.59. FOX has a 1 year low of $48.34 and a 1 year high of $76.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. The stock has a market capitalization of $23.73 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.54 and a beta of 0.54.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the business posted $1.10 earnings per share. FOX’s quarterly revenue was down 8.6% on a year-over-year basis. Equities research analysts forecast that FOX will post 4.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Private Trust Co. NA grew its position in shares of FOX by 35.6% during the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock worth $52,000 after acquiring an additional 187 shares during the last quarter. Parallel Advisors LLC raised its position in FOX by 9.2% in the 3rd quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock valued at $160,000 after purchasing an additional 214 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in FOX by 27.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock worth $67,000 after purchasing an additional 229 shares during the period. Venturi Wealth Management LLC grew its position in FOX by 3.5% during the 4th quarter. Venturi Wealth Management LLC now owns 6,916 shares of the company’s stock worth $505,000 after purchasing an additional 232 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in FOX by 20.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock worth $85,000 after purchasing an additional 251 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FOXA shares. UBS Group restated a “neutral” rating on shares of FOX in a research report on Monday, June 15th. Evercore set a $73.00 price target on shares of FOX in a research note on Tuesday, May 12th. Wolfe Research raised shares of FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a report on Tuesday. Barclays dropped their price objective on shares of FOX from $67.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $79.00 target price on shares of FOX in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, FOX has a consensus rating of “Hold” and a consensus price target of $74.13.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.