FOX (NASDAQ:FOX) Stock Rating Lowered by Moffett Nathanson

FOX (NASDAQ:FOX) was downgraded by investment analysts at Moffett Nathanson from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Barclays raised FOX to a “hold” rating in a research report on Wednesday, October 9th.

FOX Stock Performance

FOX stock opened at $45.78 on Tuesday. FOX has a fifty-two week low of $25.82 and a fifty-two week high of $47.80. The company has a market capitalization of $20.91 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 1.65 and a beta of 0.81. The stock has a fifty day moving average of $45.23 and a two-hundred day moving average of $40.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

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

Insider Transactions at FOX

In related news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total transaction of $35,521,075.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,053,505 shares of company stock valued at $47,705,970. Insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its holdings in FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after purchasing an additional 449 shares during the period. Intact Investment Management Inc. acquired a new stake in shares of FOX in the 3rd quarter worth approximately $74,000. Exchange Traded Concepts LLC bought a new position in shares of FOX in the third quarter valued at approximately $128,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of FOX by 1,269.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,560 shares of the company’s stock valued at $138,000 after acquiring an additional 3,300 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in FOX during the second quarter worth approximately $136,000. 26.41% of the stock is owned by institutional investors and hedge funds.

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.