Insider Selling: FOX (NASDAQ:FOX) Insider Sells 29,897 Shares of Stock

Fox Corporation (NASDAQ:FOX) insider Adam Ciongoli sold 29,897 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total value of $2,079,336.35. Following the transaction, the insider directly owned 35,978 shares of the company’s stock, valued at approximately $2,502,269.90. This trade represents a 45.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

FOX Stock Performance

Shares of NASDAQ FOX traded up $0.94 during trading on Tuesday, reaching $62.20. 1,047,931 shares of the stock traded hands, compared to its average volume of 1,412,608. Fox Corporation has a 52-week low of $43.18 and a 52-week high of $62.30. The company has a 50-day moving average of $56.57 and a 200-day moving average of $53.66. The stock has a market capitalization of $27.61 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 1.35 and a beta of 0.56. 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:FOX) 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 $1.06 by $0.45. FOX had a net margin of 12.35% and a return on equity of 18.61%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.57 billion. Analysts forecast that Fox Corporation will post 4.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FOX shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a report on Monday. UBS Group restated a “buy” rating on shares of FOX in a research report on Friday, October 31st. Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Fox Advisors set a $97.00 target price on shares of FOX in a research report on Tuesday, October 28th. Finally, Cfra reiterated a “buy” rating and issued a $73.00 target price on shares of FOX in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, FOX currently has a consensus rating of “Buy” and a consensus target price of $81.67.

Institutional Trading of FOX

Several institutional investors have recently added to or reduced their stakes in FOX. Cetera Investment Advisers purchased a new stake in FOX during the first quarter valued at approximately $870,000. Federated Hermes Inc. lifted its position in FOX by 66.2% during the first quarter. Federated Hermes Inc. now owns 580 shares of the company’s stock valued at $31,000 after purchasing an additional 231 shares in the last quarter. Natixis Advisors LLC bought a new stake in FOX during the first quarter valued at about $707,000. Atria Wealth Solutions Inc. purchased a new stake in FOX in the first quarter worth about $423,000. Finally, Vanguard Group Inc. lifted its position in shares of FOX by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 14,585,444 shares of the company’s stock valued at $768,799,000 after buying an additional 249,246 shares in the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

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.