FOX (NASDAQ:FOXA) Upgraded at Cfra Research

FOX (NASDAQ:FOXA) was upgraded by investment analysts at Cfra Research from a “hold” rating to a “moderate buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. Loop Capital increased their price target on shares of FOX from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and raised their price target for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Barclays dropped their price objective on shares of FOX from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday. The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price target on shares of FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $51.06.

FOX Trading Up 8.6 %

NASDAQ FOXA opened at $51.51 on Monday. The company’s 50-day moving average price is $54.15 and its 200-day moving average price is $48.79. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The stock has a market cap of $23.36 billion, a PE ratio of 11.03, a PEG ratio of 1.27 and a beta of 0.51. FOX has a 12 month low of $30.02 and a 12 month high of $58.74.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business earned $0.34 EPS. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. Equities research analysts forecast that FOX will post 4.38 earnings per share for the current year.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Trading of FOX

Hedge funds have recently added to or reduced their stakes in the business. WealthTrak Capital Management LLC purchased a new stake in FOX in the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. lifted its position in FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after acquiring an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FOX during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp increased its holdings in FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after purchasing an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after purchasing an additional 368 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

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.