FOX (NASDAQ:FOXA) Downgraded to Neutral Rating by Moffett Nathanson

Moffett Nathanson cut shares of FOX (NASDAQ:FOXA - Free Report) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have $52.00 price target on the stock, up from their previous price target of $51.00.

A number of other equities research analysts have also recently commented on FOXA. Morgan Stanley lifted their price objective on FOX from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Bank of America boosted their target price on FOX from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Evercore ISI raised shares of FOX to a "hold" rating in a research note on Tuesday, November 5th. Guggenheim increased their target price on shares of FOX from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Macquarie reissued a "neutral" rating and issued a $43.00 price target on shares of FOX in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $48.25.

FOX Trading Down 0.2 %

FOXA stock traded down $0.10 during midday trading on Tuesday, reaching $47.90. The stock had a trading volume of 4,703,845 shares, compared to its average volume of 3,131,744. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. FOX has a twelve month low of $28.28 and a twelve month high of $50.63. The firm has a market cap of $21.88 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.19 and a beta of 0.75. The business has a fifty day simple moving average of $47.76 and a two-hundred day simple moving average of $42.84.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same quarter in the previous year, the company earned $1.09 EPS. FOX's revenue was up 11.1% on a year-over-year basis. As a group, research analysts expect that FOX will post 4.09 EPS for the current fiscal year.

Insider Activity

In related news, COO John Nallen sold 182,481 shares of FOX stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock worth $20,822,072 in the last quarter. Corporate insiders own 21.77% of the company's stock.

Institutional Trading of FOX

Several hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of FOX by 7.2% in the 2nd quarter. Amalgamated Bank now owns 72,028 shares of the company's stock valued at $2,476,000 after buying an additional 4,832 shares in the last quarter. Pacer Advisors Inc. increased its stake in FOX by 4.2% in the second quarter. Pacer Advisors Inc. now owns 17,866 shares of the company's stock valued at $614,000 after acquiring an additional 723 shares during the last quarter. Profund Advisors LLC raised its position in FOX by 14.0% during the second quarter. Profund Advisors LLC now owns 7,520 shares of the company's stock valued at $258,000 after purchasing an additional 924 shares in the last quarter. ProShare Advisors LLC lifted its stake in FOX by 4.0% during the second quarter. ProShare Advisors LLC now owns 66,315 shares of the company's stock worth $2,279,000 after purchasing an additional 2,570 shares during the last quarter. Finally, Public Sector Pension Investment Board acquired a new stake in shares of FOX in the 2nd quarter valued at $314,000. 52.52% 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.