Keith Rupert Murdoch Sells 100,000 Shares of Fox Co. (NASDAQ:FOXA) Stock

Fox Co. (NASDAQ:FOXA) Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

FOX Stock Up 4.3 %

NASDAQ:FOXA opened at $45.48 on Thursday. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. Fox Co. has a twelve month low of $28.28 and a twelve month high of $45.82. The company has a market cap of $20.93 billion, a PE ratio of 11.12, a P/E/G ratio of 1.95 and a beta of 0.76. The company’s 50 day moving average is $41.53 and its two-hundred day moving average is $37.48.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. Analysts anticipate that Fox Co. will post 3.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FOXA shares. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Cfra reiterated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI raised shares of FOX to a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their price target on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its stake in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after acquiring an additional 461 shares during the period. Friedenthal Financial purchased a new position in shares of FOX during the 2nd quarter valued at about $51,000. Duncker Streett & Co. Inc. purchased a new stake in shares of FOX in the second quarter worth about $52,000. Meeder Asset Management Inc. acquired a new stake in FOX during the first quarter worth about $66,000. Finally, Covestor Ltd lifted its stake in shares of FOX by 283.0% in the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock valued at $90,000 after purchasing an additional 2,128 shares during the period. 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.