FOX (NASDAQ:FOX) Downgraded to Hold Rating by Moffett Nathanson

Moffett Nathanson downgraded shares of FOX (NASDAQ:FOX) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

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

FOX Trading Up 0.3 %

FOX stock opened at $45.78 on Tuesday. FOX has a 52 week low of $25.82 and a 52 week high of $47.80. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm has a market capitalization of $20.91 billion, a PE ratio of 11.19, a PEG ratio of 1.65 and a beta of 0.81. The business’s 50-day simple moving average is $45.23 and its 200-day simple moving average is $40.12.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.35. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.37 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. During the same period in the prior year, the business earned $1.09 earnings per share. Equities research analysts forecast that FOX will post 3.91 earnings per share for the current year.

Insider Transactions at FOX

In other FOX news, COO John Nallen sold 182,481 shares of FOX stock in a transaction on 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 directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the company’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 three months, insiders sold 1,053,505 shares of company stock valued at $47,705,970. Company insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FOX. Dimensional Fund Advisors LP increased its holdings in FOX by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock valued at $74,483,000 after purchasing an additional 272,743 shares in the last quarter. Amalgamated Bank grew its holdings in shares of FOX by 13.2% during the second quarter. Amalgamated Bank now owns 40,094 shares of the company’s stock worth $1,284,000 after purchasing an additional 4,663 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of FOX in the second quarter valued at $335,000. ProShare Advisors LLC raised its holdings in shares of FOX by 7.2% in the second quarter. ProShare Advisors LLC now owns 18,109 shares of the company’s stock valued at $580,000 after buying an additional 1,221 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in FOX by 12.8% during the 2nd quarter. Bank of Montreal Can now owns 135,298 shares of the company’s stock worth $4,366,000 after buying an additional 15,391 shares in the last quarter. Institutional investors own 26.41% of the company’s stock.

About FOX

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.